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Interest rate of 1% compounded yearly, APY = 1%. Interest rate of 0.7% compounded quarterly, APY = 0.702% . Interest rate of 0.5% compounded daily, APY …
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83
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If you start with zero and put away $135 a month (about $33.75 a week) in a savings account that compounds monthly and earns a 4% annual interest rate, you would save more than $5,000 in three ...
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83
100
The APY would be (1 + .05/4) * 4 - 1 = .05095 = 5.095%. It pays 5% a year interest compounded quarterly, and that adds up to 5.095%. That's not too dramatic. However, if you left that $100 for...
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- 25 yrs old
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