Current vs Effective Rates

detre316 | 22:10 Mon 15th Oct 2007 | Business & Finance

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I have numerous options for investing my money, but an not sure how to make my decisions based on current and effective rates. My savings accounts give me both a 7 day current rate and a 7 day effective rate. My other option is to invest into the money market, but I know that it doesn't compound daily, but still gives me a 7 day current and 7 day effective rates. Which rate should I use for comparision and why? Why does the Money Market still give an effective rate, if it doesn't compound daily?

difference between bacs and chaps ?

State Pension

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