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arshdf
 Post subject: how to calculate savings interest..?
PostPosted: Wed Apr 25, 2012 12:22 am 

Joined: Wed Apr 25, 2012 12:15 am
Posts: 1
Ok, i'm confused. Looking at WellsFargo rates here:

https://www.wellsfargo.com/savings_cds/way2save

It says their savings have an APY of 0.01% (..compounded daily & payed monthly..??)
Seriously? So if I put 1000$ in for a year, I can expect to earn a dime? I must be missing something.
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bill o
 Post subject: Re: how to calculate savings interest..?
PostPosted: Wed Apr 25, 2012 5:14 am 

Joined: Fri Mar 16, 2012 7:33 am
Posts: 107
Yep, 10 cents for the whole year... Don't spend it all in one place.

It's more like negative savings.
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