>>Hi everybody,
>>
>>If I have an item which cost $100 and the annual interest rate is 2% and the days of interest 10, how can I calculate the actual interest cost?
>>
>>Can you give me the exact formula, please?
>
>Interest=principal*(rate*days/36500)
>
>You can go at this step by step - calculate the annual interest (principal*rate/100) then multiply that with the proportionate part of the year (days/365) but the result should be the same, save for roundoff errors happening in a different order.

What about leap years?

Also I think the interest is in actual value 0.02 (let me verify). It's Numeric 5.2, so I assume it's not in %.