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How is the daily balance method different from compounding interest daily?


a. Unlike daily compound interest, the daily balance method only applies charges at the end of

the month.

b. The daily balance method rounds less frequently than daily compound interest.

C. The daily balance method checks your balance at the end of each day, but daily compound

interest checks at the beginning of each day.

d. It is not different. The two processes are the same.

Please select the best answer from the choices provided

Respuesta :

jstichman

Answer:

a on edge 2021

Step-by-step explanation:

ProfChris1

We can see that the daily balance method is actually different from compounding interest daily in the following way: A. Unlike daily compound interest, the daily balance method only applies charges at the end of the month.

What is compound interest?

Compound interest is actually known as the addition of the interests to the principal. It is an accumulation of the interests gathered over a period of investment plus the principal sum.

Daily balance method refers to the daily interest that is calculated at the end of each day. It applies charges at the end of the month. This is why it is different from daily compound interest.

Learn more about compound interest on https://brainly.com/question/24924853

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