How is the interest calculated?
A total period of how many days there are between the investment’s start date and the final (closing) date is taken into calculation. The total investment days number is calculated using the ‘DAYS360’ function, which may be found here.
The interest you will earn for short-term loans is counted upon the formula:
invested amount/360 (days in a year) * investment term in days * interest rate.
For example, if you invest 100 Eur for 30 days with an interest rate of 11%, the calculations go as follows: 100/360*30*0.11 = 0.92 Eur.
Interest earned is rounded up to the investor’s advantage up to 2 numbers after the decimal point, based on standard mathematical calculations.