The information was really clear to understand. This would have helped many people. Gr8 Rediff.
Can anyone clarify or tell me the formula on how to calculate the interest earned on FD for the financial year, for : 1) If the FD is opened on 15-aug-06, 5 year term 8%, compounded quaterly. How to calculate the interest earned for the period 1-apr-07 to 31-mar-08.
If the last quater of the FD fall in the mid of may07 do we need take the full interest as income for 2007-08 or only the days.
