The apy is 4.36%
2007-01-07 14:17:34 · 6 answers · asked by br3605@sbcglobal.net 1 in Business & Finance ➔ Investing
The APY (Annual percentage yield) is higher than APR (annual percentage Rate) because of compunding. 4.28% per month is a bit high for savings; it's your ANNUAL rate, paid monthly.
Your total interest for 12 months is $109.00.
Each month the interest is slightly higher than the month before because interest is paid on the base amount, plus the interest paid the previous month.
The WealthBuilder
Tax Specialist
"There is nothing more powerful in the world as compound interest" -- Albert Einstein
2007-01-07 14:34:34 · answer #1 · answered by WealthBuilder 4 · 1⤊ 0⤋
that's a confusing question. in case you breastfeed and use reusable diapers, maximum of your expenditures will take place interior the commencing up (mattress, fabric cabinet, changing table, play pen, swing). you will ought to constantly purchase clothing, however the fee on that could variety too, per what form you purchase and in case you purchase new or used. and of direction there is toys. I in all danger spend $30-80 a month on toys for my little guy. and you will in basic terms fullyyt breastfeed for the 1st 6 months, after which you ought to purchase or make toddler nutrition. Then of direction there is the unpredicted expenditures. My toddler in basic terms spend 5 days interior the wellbeing middle with an contaminated lymph node. So this month his expenditures would be greater beneficial than $2,000 (and that's after insurance).
2016-12-12 06:36:31 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Sorry, your interest is not 4.28% per month, that is your annual periodic rate. To calculate your monthly interest, take .0428/12, and multiply by your average daily balance. In your case that sounds like 2500. By my estimations, you are gaining approximately 8.92 per month.
2007-01-07 14:28:15 · answer #3 · answered by Freddie 3 · 1⤊ 0⤋
Impossible! No one is paying 4.28% interest a month!
2007-01-07 14:29:25 · answer #4 · answered by dumpbullets 2 · 0⤊ 0⤋
Super simple, kick over to decimal places to drop the % then divide .0436 by 12 to get .000363... then multiply the original number by that (or 1.000363 to get the total without adding back to original amount) or 2509.08 (this assumes monthly compounding).
2007-01-07 14:28:53 · answer #5 · answered by Paul B 2 · 1⤊ 1⤋
around 10 dollars
2007-01-07 14:28:39 · answer #6 · answered by wookie 3 · 0⤊ 1⤋