The answer depends on the definition of the day. Business days are 5 days per week. Calendar days are 7 days per week.
For example: Interests rate of 1.2% daily for each business days equals to 6% weekly. While 1% daily for each calendar days equals to 7% weekly.
Is 7% daily is better than 2% daily?
The answer depends on whether your capital is returned or not at the end of the investment contract. If your capital is included in the daily returns, it means that your capital will be expired or not returned at the end of the contract.
If the investor always re-invest back the capital at the end of the contract, the daily return is actually lower than the published rate.
For example: Interest rate of 7% daily for each business days equals to 35% weekly for 4 weeks. The capital is returned 25% for each week. So, the real weekly rate are 10%. While the 2% daily for each business day equals to 10% weekly if the capital is returned at the end of the contract.
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