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90000 in bank at 8.50 for 12 months whta intrest
I have 90000 dollars in the bank at 8.50 for 12 months compounding intrest
how mutch do i get at end of year. thanks if you can help. |
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#2
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90000 in bank at 8.50 for 12 months whta intrest
It depends how the compounding is done, and how the interest is quoted.
{under some regulations, the rate quoted will be the annual percentage rate, rather than the nominal rate, so it might be as simple as =90000*(1+8.5%). If the interest per month is 8.5% divided by 12, and the interest is compounded monthly, you'd end up with =90000*(1+8.5%/12)^12 -- David Biddulph "Dunnning" wrote in message ... I have 90000 dollars in the bank at 8.50 for 12 months compounding intrest how mutch do i get at end of year. thanks if you can help. |
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#3
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90000 in bank at 8.50 for 12 months whta intrest
Depends on the bank, call and ask.
Dunnning wrote: I have 90000 dollars in the bank at 8.50 for 12 months compounding intrest how mutch do i get at end of year. thanks if you can help. |
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