Does anyone know where I might find an online (or spreadsheet) calculator, that allows for interest that is calculated monthly, but paid yearly? (As with most high-interest savings accounts.)
Thanks for reading…
Allan.
Do you want to calculate how much interest will be due after 12 months and pay it up front or something different ??
Hi camder…
We just opened a savings account with Elders Rural Bank. Interest is 5.65% and is
calculated monthly, but paid yearly. So, I’m not sure if the calculator I’m using calculates this correctly…[Edit] Oops, I just checked and interest is calculated *daily*, but paid *monthly* into the account – not yearly like I originally thought.
You must be logged in to reply to this topic. If you don't have an account, you can register here.
