Question: When calculating interest rates for 10 days and given the yearly interest rate for 1 year, do we convert the interest rate doing (8%*(10/360)) or

When calculating interest rates for 10 days and given the yearly interest rate for 1 year, do we convert the interest rate doing (8%*(10/360)) or do we do (1.08)^(360/10) or is there another way to compute this?

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