Figuring interest for a short period of time is done with intervals.

Each interval, you probably just take the amount currently

owed and multiply it by 1.00 or "One" point Zero, Zero, Zero, Plus

you have to add in the interest rate for that interval.

So if the interest rate for that interval is X%, but the interval is

one 365th of the interest rate period, then divide X% by 365.

then you have interest rate for that small interval. Then add

the (X% / 365e.g.) to the 1.00000 or 100% and multiply that

by the amount owed at that time.

Say the interest rate is 22%, really high, but the interval is

an eleventh of a year, then 22% / 11 is 2% for that interval.

So 1.0000 + 2% = 1.02000 and use that to multiply by the

amount owed.

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