Hello, can anyone help me with this compound interest formula?

I was reading this article:

"

I'm trying to determine how the author arrived at a figure of 0.005534246% interest compounded daily on a 2% annual interest rate.

When I run the figures through the formula I get 0.019803164% daily periodic interest.

What am I missing?

Original article:

http://www.ehow.com/how-does_4927638...alculated.html

I was reading this article:

"

*Compound interest means that interest is added to the principal after each period, and therefore accrues additional interest. Interest payments on savings accounts and some CDs is compounded at a regular rate. Transforming an annual interest rate into a compounded daily periodic rate is done through the equation at left, where r1 is the annual interest rate, n1 is equal to one, r2 is the daily periodic rate and n2 is the number of compounding periods in a year (either 360 or 365). If interest is compounded daily, the 2 percent annual rate quoted in the previous example increases to 0.005534246 percent on a daily periodic basis of 365.*"I'm trying to determine how the author arrived at a figure of 0.005534246% interest compounded daily on a 2% annual interest rate.

When I run the figures through the formula I get 0.019803164% daily periodic interest.

What am I missing?

Original article:

http://www.ehow.com/how-does_4927638...alculated.html

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