2007-03-26 15:22:47 · 9 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
I have $1,000. So how much would I get in one year?
2007-03-27 12:00:15 · update #1
$1000.00x5%=$50.00 in one Year you will have $1050.00 what does apr stand for ? +another %5 ? that would make it $100.00
2007-03-29 12:22:15 · answer #1 · answered by pooterilgatto 7 · 0⤊ 0⤋
The answer to this is 1-You did not say how much money you were going to invest. 2- It depends on how to wish to receive your interest. Paid monthly, quarterly or have it compounded. By compounding it you make slightly more because as the interest is added to the face value of the CD each quarter the next 3 months it earns interest on the CD amount plus the interest that it earned for the last 3 months. In short, interest on interest. By the way, APR stands for Annual Percentage Rate. Also Annual Percentage Yield must be given at the time the rate is disclosed. What the yield is, the rate of interest you will earn if the interest is compounded instead of earning a straight 5.00% rate by getting the interest monthly or quarterly.
2007-03-26 15:45:00 · answer #2 · answered by Little Mac 3 · 0⤊ 0⤋
5% is not a lot unless you know the amount you are putting into this CD account for a yr. that is like money you do not touch. They have 7 day CD, etc. USBC online account has a NEW money account until April 30th with 6% interest and their saving/checking account earn 5.25%. You better understand what u are doing because of penalties involved with interest account the fine print. B/A checking account is 0.5%.
2007-03-26 15:44:40 · answer #3 · answered by Anonymous · 0⤊ 0⤋
1st - no 7.5% risk free investments around 2. 5% awful Always going to lose purchasing power in a bank vs taxes and infaltion. You can make 5% tax free in some closed end Municipal Bond funds like FPT. Need to do that or get into some stocks. 5% taxable no good at all.
2007-03-26 19:35:52 · answer #4 · answered by vegas_iwish 5 · 0⤊ 0⤋
apr stands for "above prime rate", so if you invest $1000 for a year and the prime rate averages 5%, you will make $100 (5% + 5%)
2007-03-26 15:26:38 · answer #5 · answered by kamaole3 7 · 0⤊ 0⤋
Depends on the APY.
5% compounded annually yields 5%
5% compounded monthly yields about 5.116%
5% compunded daily yields about 5.1267%
2007-03-26 15:53:09 · answer #6 · answered by frugernity 6 · 0⤊ 0⤋
5%
2007-03-26 15:25:01 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Why start a 5% cd when you can start a IRA that earns 7.5% risk fee, check out my website for more information on a IRA. www.sandiegoira.com
2007-03-26 19:32:39 · answer #8 · answered by corey m 1 · 0⤊ 2⤋
Um 5 %???
2007-03-26 15:24:57 · answer #9 · answered by Gman 4 · 0⤊ 0⤋