How do bank calculate interest. If it is 4% p.a then how bank credits me the interest after every three months? also, i would like to know how it is compounded yearly, half yearly or quarterly?
Thanks in advance
How do bank calculate interest. If it is 4% p.a then how bank credits me the interest after every three months? also, i would like to know how it is compounded yearly, half yearly or quarterly?
Thanks in advance