Carpediem
Full time employment: Posting here.
- Joined
- Aug 26, 2016
- Messages
- 770
A CD newbie question ..... The following is from the PenFed website:
"6 Month certificates earn dividends on simple interest basis. All other certificate dividends are compounded daily."
I was going to invest in a 6 month CD (2.2% at PenFed) when I noticed the fine print above. I'm definitely a member of the 'math is hard' crowd so I was wondering if this should cause me to look around. Or is that fairly common (i.e., simple interest) for 6 month CDs?
"6 Month certificates earn dividends on simple interest basis. All other certificate dividends are compounded daily."
I was going to invest in a 6 month CD (2.2% at PenFed) when I noticed the fine print above. I'm definitely a member of the 'math is hard' crowd so I was wondering if this should cause me to look around. Or is that fairly common (i.e., simple interest) for 6 month CDs?