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A comment on Robinhood launches 3% checking account. Parent comment

Re:Robinhood launches 3% checking account by talltimtom on Thursday December 13, 2018 @01:59PM (#18674991)
Why would the standard be to calculate a number that has no use and isn’t rooted in reality? If the rate is 3% annually and paid out daily, the the daily rate is the number that compounded yields 3% annually....
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Re:Robinhood launches 3% checking account by ikeboy on Thursday December 13, 2018 @04:17PM (#18676202)
Because it makes it easy to calculate how much is distributed. Just take the annual rate, divide by number of periods, and multiply by the amount of principle.
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