I=prt
what is the interested with a $750 deposite for 7 years with an APY of 0.05%
I= 750 x .ooo5 x7
I= $2.65
100
what is the best thing about budgeting?
how to spend your money wisely.
200
if you have a saving account and your rate is .0005 and your investment is 1,200 and you keep it in an account for 5 years.
How much will you make?
I=PRT
1,200 x .0005 x 5
1,203
so you made 3 dollars.
200
if you have a CD account..
your investment is 50K , your rate is .0005 and you have it for 20 years.
how would you set up your problem and how much would you make?
I=PRT
I=50,000 x .0005 x 20
500$
so 50,000 is your total.
200
what else can a money market account be called?
mutual funds
200
if you rate is .05 how would you put it for an formula?
.0005
200
Why is rate and time so important.
because it depends on how much and how long you would have your account.
300
are saving account usually FDIC protected?
yes.
300
are CD usually FDIC protected?
yes.
300
how would you set up your formula for this problem...?
50K is your investment. Your Rate is 2.95% (.0295) and your keep it in your account for 20 years.
I=PRT
I= 50,000 x .0295 x 20
300
if your rate is .01 , how else can you put when it comes to putting it in your formula.
.0001
300
what dose FDIC do ?
protect your money and 100% money back is something bad happened to your bank.
400
is their a limit for a savings account?
no.
400
how much money do you make?
your investment is 70K , your rate is .0005 and your time is 40 years.
I=PRT
I= 70,000 x .0005 x 40
total= 1,400
so your complete total is 71,400
400
are MMA usually FDIC protected?
no.
400
how much are you making? and is it a good rate ?
if you have 20,000 you want to put into an account and your rate is .01 and you have it for 70 years.
I=PRT
I= 20,000 x .0001 x 70
total? 140
( 20,140)
its not the best because you only make 2 cents a year.
400
what is interest rate?
percentage you make on your money.
500
is a saving account best to keep money if you need to save and have boundaries for yourself?