Question

Is compound interest, 45% per year equivalent to 0.103% per day?!! No pictures/+additional information available !!

Answer 1

The compound interest rate is given as 45% per year.

It is required to check if this is equivalent to the rate of 0.103% per day.

To convert the annual interest rate to the daily interest rate, divide the annual interest rate by 365, the number of days in a year:

$\frac{45}{365}\approx0.123$

Hence, the equivalent daily rate is about 0.123% per day.

It follows that the given interest rates are not equivalent.

No, they are not equivalent.