Jun 23 2011, 11:46 AM
QUOTE(WaCKy-Angel @ Jun 23 2011, 09:21 AM)
I actually dont understand how to differentiate the interest earning between savings & FD...
For example, if i save 5000 in FB with 3%pa and the withdrawal/maturity date are actually 1 month (rm5000 min 1 month) so how much i can get after 1 month?
Compared to savings lets say 5000 with 2%pa how much i can get after 1 month?
My confusion is, isnt "pa" means "1 year" ???
pa = per annum = per year. if it is 3%.. then the daily interest rate would be principal x 3%/365 days .For example, if i save 5000 in FB with 3%pa and the withdrawal/maturity date are actually 1 month (rm5000 min 1 month) so how much i can get after 1 month?
Compared to savings lets say 5000 with 2%pa how much i can get after 1 month?
My confusion is, isnt "pa" means "1 year" ???
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