How much will I earn in 12 mos
2007-03-04 14:15:01 · 8 answers · asked by chrisandlane 2 in Business & Finance ➔ Investing
If the rate is 4.5% per year, compounded daily, then $418.41
400*(1+(.045/365))^365,
if 4.5% per day (highly unlikely, and it illegal to charge borrowers this rate), then:
400*(1.045)^365 = $3,797,571,894
2007-03-04 14:39:39 · answer #1 · answered by CanadianBlondie 5 · 0⤊ 0⤋
If you are using 365 days as a year for calculation, you will earn $179.5068 in 12 months.
2007-03-04 22:47:38 · answer #2 · answered by Tan D 7 · 0⤊ 0⤋
Total incl the initial $400.00 would be $418.41 if the APR is 4.5%
With a daily interest rate of 4.5% it would be
$3,797,571,894.18
2007-03-04 22:24:54 · answer #3 · answered by Anonymous · 0⤊ 0⤋
it will earn 111.50 making the total 511.50
2007-03-04 22:27:48 · answer #4 · answered by fred b 2 · 0⤊ 0⤋
about $9. i like this calculator:
http://bankrate.com/brm/calc/cdc/CertDeposit.asp
2007-03-05 11:00:29 · answer #5 · answered by MrBlotto 2 · 0⤊ 0⤋
The answer is $18.37.
2007-03-05 01:57:38 · answer #6 · answered by roger_v_kint 3 · 0⤊ 0⤋
I think its 216.00 dollars.
2007-03-04 22:33:02 · answer #7 · answered by Matt gallops 2 · 0⤊ 0⤋
$18.41
2007-03-04 22:20:14 · answer #8 · answered by Anonymous · 0⤊ 0⤋