Since March has 31 days, we can use the accrued interest formula to calculate your interest payable for the month. Accrued interest = 0.000438 × 31 × $3,000 = $40.77 ...

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To calculate accrued interest for a changing balance, you can use the above formulas along with your average daily balance, which can be found using the following method.

To calculate accrued interest for a changing balance, you can use the above formulas along with your average daily balance , which can be found using the following method.