I apologies bothering you with a trivial thing, but I’ve been thinking about saving some money in a bank and one of them offers 2.89% nominal benefits on yearly bases, but they award you each and every day a fraction of this yearly benefit. Each subsequent day has the base + previous day’s benefits calculated as a new base for the %. They cite that If you deposit 10k you get 0.79 every day. What are the actual effective yearly benefits in %? Is it 3%? More? Less? Thank you Please Register or Log in to view the hidden image!