What is the formula to work out APY for asavings commentary?
details:
4.5% APY for hoard account
$2496 currently within account
interest is remunerated monthly
Answers:
APY = (1 + r/n )n – 1
r = the rate (expressed as a decimal, ie .045)
n = number of times it compounds during the year.
If you are basically looking to caculate it, you can find calculators online.
Ken Clark
Certified Financial Planner
Which online money making sites really work?
$$Money$$!??
Money?
Should i quit my position or not?
Who is the Rich Jerk?
4.5% APY for hoard account
$2496 currently within account
interest is remunerated monthly
Answers:
APY = (1 + r/n )n – 1
r = the rate (expressed as a decimal, ie .045)
n = number of times it compounds during the year.
If you are basically looking to caculate it, you can find calculators online.
Ken Clark
Certified Financial Planner