2006-09-27 03:07:57 · 5 answers · asked by upfromnutin 2 in Business & Finance ➔ Investing
500 was the inital
2006-09-27 03:11:05 · update #1
To find the interest paid on a CD, divide the yearly rate by 360 to get the daily rate. Then compound daily to find the value.
Using 5% per year and an initial investment of $500, you will have the following amount after six months:
PV = 500*(1+5%/360)^N -- where N is the number of actual days in six months.
$512.73 -- if 181 days in six month period
$512.80 -- if 182 days in six month period
$512.87 -- if 183 days in six month period
$512.94 -- if 184 days in six month period
2006-09-27 04:44:35 · answer #1 · answered by Ranto 7 · 0⤊ 0⤋
$500.00 invested for 6 mos @5% interest 500x5%=25 :2+12.50
25 would be the interest for one Year therefore you divide by 2 to get the 6 mo answer. There is a calculator on your computer, and if you can reinvest for another 6 mos you will earn the $25. for the 12 mos that is good interest rate on a CD
2006-09-27 03:48:16 · answer #2 · answered by pooterilgatto 7 · 0⤊ 1⤋
It pays out 2.5% at the end of the 6 months, if you renew or leave it alone it will renew and get you the full 5% at the end of the year.
2006-09-27 03:11:27 · answer #3 · answered by Anonymous · 0⤊ 1⤋
Well depending on your investment, Just add 5% to your investnment
2006-09-27 03:09:28 · answer #4 · answered by ooodjkooo 2 · 0⤊ 1⤋
what was the initial deposit amount?
2006-09-27 03:08:57 · answer #5 · answered by Akkakk the befuddled 5 · 0⤊ 1⤋