Interest??

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If you give a bank $1000 and your interest rate is 3% how long will it take to earn $300?? thx

2007-09-18 14:44:44 · 3 answers · asked by Anonymous in Business & Finance ➔ Personal Finance

About 9 years (a little less). If you need an exact time, then use a financial calculator.

2007-09-18 15:05:32 · answer #1 · answered by A5150Ylee 4 · 0⤊ 0⤋

As an addition to the above answers. In one year, $1000 will earn $30.00 (based on a 3% rate of return).

2007-09-18 23:19:25 · answer #2 · answered by Common Sense 7 · 0⤊ 0⤋

is this APR or monthly, what type of acct there r so many variables ck w/a credit union rather than a bank

2007-09-18 21:58:31 · answer #3 · answered by nunya 3 · 0⤊ 0⤋