2007-01-11 00:21:17 · 7 answers · asked by mrdonbennett 1 in Business & Finance ➔ Renting & Real Estate
The interest income would be $11,000, but this would likely be subject to income taxes, both state and local, so the actual amount that could be spent may be somewhat less.
2007-01-11 00:27:21 · answer #1 · answered by David545 5 · 0⤊ 0⤋
Depends on whether 5% is a flat rate for one year (simple interest), an APR or an APY. APR= Annual perecentage Rate, APY=Annual percentage Yield. APR & APY can be different depending on how often the compounding periods are.
So the answer is, "What do you mean EXACTLY by 5% interest?"
2007-01-11 00:28:45 · answer #2 · answered by WealthBuilder 4 · 1⤊ 1⤋
.05 x 220,000= ?
basic math... get a tutor. having these basic skills will help your quality of life.
2007-01-11 03:36:02 · answer #3 · answered by Anonymous · 1⤊ 1⤋
11 grand.
2007-01-11 00:30:05 · answer #4 · answered by INFINITE CONSCIOUSNESS 5 · 0⤊ 0⤋
Nothing.
2007-01-11 00:31:06 · answer #5 · answered by ħ Ì Wêår M¥ Mê?ål Må§k 5 · 0⤊ 1⤋
$11000
2007-01-11 00:25:10 · answer #6 · answered by Anonymous · 0⤊ 0⤋
no
2007-01-11 00:25:39 · answer #7 · answered by Anonymous · 0⤊ 1⤋