Is this the correct way to calculate..5k park for 3mths with 2% p.a...
Fixed Deposit Rates In Malaysia V. No.15, Strictly for FD Discussion Only
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 Jul 11 2021, 09:58 PM
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#1
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Senior Member
1,936 posts Joined: Oct 2011 From: KL 
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Is this the correct way to calculate..5k park for 3mths with 2% p.a... |
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Jul 11 2021, 11:52 PM
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#2
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Senior Member
1,936 posts Joined: Oct 2011 From: KL
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QUOTE(babysotong @ Jul 11 2021, 11:29 PM) Technically, it should be: ohh...even maturity is based on monthly basis?rm5000 * days for the 3 months / 365 * 2% Cause interest is calculated by days. Different months have different days  |
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Jul 12 2021, 11:08 AM
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#3
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Senior Member
1,936 posts Joined: Oct 2011 From: KL
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QUOTE(wayton @ Jul 12 2021, 09:26 AM) Interest is calculated on daily basis, then only payout when maturity. So meaning that interest would be rm25?You can't compound the interest until the first FD matured and interest being paid and renew to newer FD period. |
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