Interest Compounding

vadimrapp
vadimrapp Quicken Windows Subscription Windows Beta Beta
edited July 2023 in Registers & Transactions (Windows)

In the settings of a savings account Quicken has the field for the interest rate, but no field for the interest compounding. How does one enter correct rate?

For example CIT Bank Savings account offers 4.85% APY, which corresponds to 4.73% with interest compounding daily. Other accounts in other banks compound monthly. How does Quicken handle this?

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