If you have 5 extra dollars in your balance if you were to divide this into your months balnce...?

Question

how would this be multiplied to find your daily balance?

Answer 1

The daily balance for $5.00 would be $0.16 for a 31 days average in a month. With a 0.5cents interest at 2% for a year. .04 in a month's time and for a daily one, so minimal at 0.001 daily. In a year's time, you'd have a total of $5.50.