I have been curious about the HBD interest rate which led me to initially build a spreadsheet to calculate how much it takes in savings to receive 1 HBD/day in interest at varying interest rates. You can see below that in order to earn 1 HBD/day an account must have 1825 HBD in savings at our current 20% rate. That will earn roughly 30 HBD per month or 365 per year. 2 HBD/day gives about 60 HBD/month, 3 90 and so on.
Next I got to thinking about an HBD savings plan for the year. I have seen the add 1 per day plan used in many other venues so I tried applying it here. I've hidden most of the rows but you can see that on January 1st 1 HBD is added to an account. The next day one more HBD is added to savings + there is the accrued interest (which is added every month). On December 31st or maybe the next day the savings account will hold 403.94 HBD of which 37.94 HBD is the interest for the year.
This is the monthly breakdown which shows the total HBD held at the end of each month if started from 1. The total interest accrued is a running total and the per mth interest is showing the amount of interest earned that month.
Let's say that you are able to continue this for 6 years, having started with 1 HBD and adding 1 everyday a t the end of the 6 years you would have 4215 HBD in savings with 2025 HBD being interest accrued over the entire 6 years.
This last data shows the amount of interest an account would earn starting with these amounts on January 1st and adding just 1 HBD per day for the entire 365 days. I threw the 2200 in as that is where I am going to start the year.
I hope this info is found helpful. I find the data to be rather interesting and am doing some calculating to see what my average daily savings deposit will be for the next year. Given my posts go half and half hive HBD I get daily HBD which I regularly transfer to savings. My goal is to average at least 2 per day.
Just for giggles I just ran the numbers and starting with 2 HBD on Jan 1 and adding 2 per day would end the year with 807.88 HBD of which 442.88 is interest.
The formula for finding the daily interest accrued is:
HBD amount X Interest Rate / 365
If I have any mistakes in here please tell me so I can fix them.
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