CD compounding methods...which is best?
If I buy a $10,000 CD for 2 years, which method of compounding (from the ones below) will let go more at readiness? Thank you.
Simple
Daily
Monthly
Annual
Answers:
Daily logically. The more compounding in attendance is, the better the return. Duh.
Daily is best, subsequent best is monthly.
Why?
Daily - interest is calculated day after day base on the average on a daily basis stability which includes the accrue interest.
Monthly - interested is calculated once a month base on the average day after day symmetry which includes the interest rewarded surrounded by prior months.
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Simple
Daily
Monthly
Annual
Answers:
Daily logically. The more compounding in attendance is, the better the return. Duh.
Daily is best, subsequent best is monthly.
Why?
Daily - interest is calculated day after day base on the average on a daily basis stability which includes the accrue interest.
Monthly - interested is calculated once a month base on the average day after day symmetry which includes the interest rewarded surrounded by prior months.