Figure out monthly interest amount?
I own money within the ridge at 5 percent APY. Does that tight-fisted every month I can nick the total within funds, run 5% of that amount, afterwards divide by twelve to digit out what I am making in interest respectively month? I am handicapped when it comes to math but turn slow and answer so a monkey would grasp and I'll achieve it hopefully. thanks
Answers:
You can whip .05 divide it by 12 and you would seize .0041666
Then multiply .0041666 beside the amount of money you own contained by the guard and you would catch an conception on how much interest you made for the month.
You get it right. 5/12% per month
That's correct. Also in defence you don't want to enjoy to amount it yourself and a moment ago want to plug contained by the numbers consequently I'm linking an excel spreadsheet I created that information it for you assuming the interest is added rear within for compounding. If you use it afterwards I hope it help.
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Answers:
You can whip .05 divide it by 12 and you would seize .0041666
Then multiply .0041666 beside the amount of money you own contained by the guard and you would catch an conception on how much interest you made for the month.
You get it right. 5/12% per month
That's correct. Also in defence you don't want to enjoy to amount it yourself and a moment ago want to plug contained by the numbers consequently I'm linking an excel spreadsheet I created that information it for you assuming the interest is added rear within for compounding. If you use it afterwards I hope it help.