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Does interest calculate the interest earned also?
dwarfer
Posts: 105 Forumite
Hello you lot
i got a questiono abouty ISAs and them saving accounts. im with NS&A that pays 5.8% interest, i read the article about compount interest where you get paid interest on your savings PLUS your interest you earned for last year's interest.
Does normal ISAs or saving accounts do this? say i make £50 a year in interest, does the interest calculate my savings AND the £50 (£1050) or just my savings minus interest earned.
Thanking you's i look forward to a response
i got a questiono abouty ISAs and them saving accounts. im with NS&A that pays 5.8% interest, i read the article about compount interest where you get paid interest on your savings PLUS your interest you earned for last year's interest.
Does normal ISAs or saving accounts do this? say i make £50 a year in interest, does the interest calculate my savings AND the £50 (£1050) or just my savings minus interest earned.
Thanking you's i look forward to a response
Rest in Peace, Emily. Say hi to Robbo for me xxx
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0
Comments
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Yes, provided you don't withdraw the interest.0
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