Interest on 1 Million Dollars?

Answer

In order to find the answer to the question of what is the interest rate on One Million Dollars, one must first answer three very important questions. The first of the questions are about the rate, at what rate is the money in question earning interest in the first place. Secondly, what is the term that we must use to compute this equation, and third of all we need to know when and how often the interest on this 1 million dollars pays out to the account holder.
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The answer will depend on the interest rate. Multiply the annual interest rate (in percentage terms) by 10000/365.
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Assuming you have a 4% interest rate, compounded monthly, you
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