My fbc current daily rate is @ 0.01178082% calculated from 4.39% (
https://i.ibb.co/BtYZkSH/annual-interest-rate.png) annually but no calculation explains me why:
0,0121944444=4,39/360
0,0120273973=4,39/365
0,0118648649=4,39/370
0,0117066667=4,39/375
You are not taking compounding into account. If there was no compounding and you only earn interest on your principal investment, then the annual interest rate would be 0.01178082%*365, which is 4.2999993%
You are actually earning interest on your principal amount + accrued interest. As you accumulate more interest, your earnings will be higher over time instead of just being a flat daily amount.
