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To calculate your daily interest accrual, the following formula should be used: (Current Principal Balance x Interest Rate) ?

April 26, 2017accrual CALCULATE Formula Interest rate Principal Used

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To calculate your daily interest accrual, the following formula should be used: (Current Principal Balance x Interest Rate) ?

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Translated, this equation means that your current principal balance would be multiplied by the interest rate and then the product would be divided by 365.25 (the number of days in one year). The result of these calculations could then be multiplied by a specific number of days to determine how much interest would accrue in a specific time frame.