> Daily interest help?

Daily interest help?

Posted at: 2014-12-05 
Future Value = Present Value(1 + r)^n

these are some unrealistic figures, that said...

FV = 200(1.20^30)

= 200(237.37631)

= $47,475.26

FYI if the ANNUAL rate was 20%, compounded daily...

r = 0.20 / 365 = 0.00055

FV = 200(1.00055^30)

= 200(1.01657)

= $203.31

If I start with a principle of $200 and make 20% each day how much will I have at the end of 30 days. Also if you could explain How you set this up so I could learn and do it myself next time. Thank you