P
Phil Jones
Guest
This is probably a fairly simple question to most of you but here goes;
When looking at Saving tables to find the best, some say they calculate interest Monthly and some Yearly. Surely if Monthly then the interest gets added to the capital and then incurs further interest on it next month, where if yearly there is only the one hit.
So for 2 companies with the same rate - surely you would get more interest for the one paying monthly rather than yearly.
AM I right in this assumption ??
Phil
When looking at Saving tables to find the best, some say they calculate interest Monthly and some Yearly. Surely if Monthly then the interest gets added to the capital and then incurs further interest on it next month, where if yearly there is only the one hit.
So for 2 companies with the same rate - surely you would get more interest for the one paying monthly rather than yearly.
AM I right in this assumption ??
Phil