Print

formula forward!

Good afternoon and congratulations on the helpful forum!!! to the wording "The 3-month forward rate for up to 4K x euro bank is 4%, how can I calculate my interest at the end of the period of deferred; example is the below 4000 * (0.04 / 360) * (90 days) = 40 EURO - 10 EURO TAX .40% = 36 euros thanks for your help George-friendly
This is a comment on "Fixed deposits"
Comments (1)
1 Thursday, 20 May 2010 21:47
Ο Τσιγκούνης
The formula is correct for most banks in Greece. But some, like Citibank and the Millennium, calculate interest at the year of 365 days. To ensure accuracy of course you need to count how many days is just the quarter.