how is the daily balance method different from compounding interest daily?\na. unlike daily compound…
how is the daily balance method different from compounding interest daily?\na. unlike daily compound interest, the daily balance method only applies charges at the end of the month.\nb. the daily balance method rounds less frequently than daily compound interest.\nc. the daily balance method checks your balance at the end of each day, but daily compound interest checks at the beginning of each day.\nd. it is not different. the two processes are the same.\nplease select the best answer from the choices provided\no a\no b\no c\no d
Answer
Brief Explanations:
The daily - balance method checks the balance at the end of each day, while daily compound interest checks at the beginning of each day. This is the key difference between them.
Answer:
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.