Current vs Effective Rates

detre316 | 21:10 Mon 15th Oct 2007 | Business & Finance

0 Answers

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

Answers

Best Answer

Nobody has yet answered this question. Once some answers have been given, detre316 will be able to select one answer as the best. Once a best answer has been selected, it will be shown here.

For more on marking an answer as the "Best Answer", please visit our FAQ.

There are no answers available for this question.

Do you know the answer?