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#1
04-05-2007, 04:37 PM
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 Re: stupid question On Apr 5, 2:19 am, "finwicke" <finwi...[at]earthlink.net> wrote: - quote - > i saw a bank offering: "4.75 percent for three-month term deposits"
It's most likely an annual percentage rate.> does this mean that if $10,000 is deposited, three months later i > would have $10,475? > thank you- go solar |
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04-05-2007, 11:48 AM
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| Re: stupid question "finwicke" <finwicke[at]earthlink.net> wrote: - quote - > i saw a bank offering: "4.75 percent for three-month term deposits"
No. You would have somewhere around $10,119 depending on how it is> does this mean that if $10,000 is deposited, three months later i > would have $10,475? compounded. Here is a handy CD calculator <http://www.bankrate.com/brm/calc/cdc/CertDeposit.asp Keep in mind the 4.75% is an annual yield, so if you are keeping the money invested for 3 months, you would only get a fourth of that. |
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#-1
04-05-2007, 09:19 AM
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| stupid question i saw a bank offering: "4.75 percent for three-month term deposits" does this mean that if $10,000 is deposited, three months later i would have $10,475? thank you- go solar |
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| question, stupid |
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