In the best buys post what assumption is being made with regards the day basis being used 360 or 365 or does this matter?
The reason I ask is that I have a special deposit account whose rate was calculated on a 365 basis but the bank was taken over and the rate has changed because the 360 basis is being used.
I want to compare the account with others out there but don't know which rate I should be comparing the 365 or 360 one?
The reason I ask is that I have a special deposit account whose rate was calculated on a 365 basis but the bank was taken over and the rate has changed because the 360 basis is being used.
I want to compare the account with others out there but don't know which rate I should be comparing the 365 or 360 one?