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...and taking an average of these six rates. The average is the base rate. Adding the premium of 0.15% to the base rate. The result becomes the per annum simple interest rate. Converting the per annum simple interest rate into a daily effective rate. The formula for this conversion is as follows: Daily effective rate = ((1+"per annum simple interest rate as %"/100)^(1/”Days in the year”)-1) x 100 The result is the interest rate expressed as a daily effective rate for the specific day. How is...