[al0061]

Hi Willacuz. I asked myself the same question yesterday, so I looked it up and pasted the results in a document, for the next time I forget.

ING

How do you calculate the interest on my account?
Interest on your savings account is accrued daily, compounded monthly and credited to your available balance at the end of each month.

Emigrant

How do you calculate the interest?

Interest on the American Dream Savings Account is compounded daily and credited monthly. For more details, see our Account Disclosure.

UFB

Interest is compounded daily and credited monthly based on the ending daily collected principal balance.

I'm not even remotely a math whiz. (My strength is words. Sometimes this is a curse.) But this tells me that Emigrant and UFB would actually yield more than ING??? Because ING compounds monthly rather than daily??

Someone please correct me if I'm wrong.

I have no idea how that would affect the calculation that saving34 provided. Can anyone provide the calculations for compounding daily vs. compounding monthly??

Torch - aka al0061