What does “compounded daily” mean?

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asked Mar 8, 2022 203k views

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Trastle · Answer 1 · 2022-03-12T00:28:14+0000

Daily compounding interest refers to when an account adds the interest accrued at the end of each day to the account balance so that it can earn additional interest the next day and even more the next day, and so on

What does “compounded daily” mean?

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