how much Interest is 4.50% i put in $100 dollars this month?

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how much Interest is 4.50% i put in $100 dollars this month?

i have an ing account

2007-04-06 12:50:50 · 2 answers · asked by Anonymous in Society & Culture ➔ Other - Society & Culture

2 answers

Depends on how the interest is calculated (monthly, bi-weekly, weekly or daily) Whether it is compounded. Whether it is based on actual or average balance. How long you leave the money in the account, etc.

Do a Google search for "online financial calculator" and you will find several sites with calculator programs designed to compute interest on loans, investments, bonds, etc. It will walk you through the information needed to so such a calculation.

2007-04-06 12:58:31 · answer #1 · answered by dewcoons 7 · 0⤊ 0⤋

4.5% what? monthly? annually? if it's annually, then you've just made a whopping 37 cents!

2007-04-06 19:56:35 · answer #2 · answered by Anonymous · 0⤊ 0⤋