how to calculate savings interest..?

Saving & investing, frugality & simple living. They're all part of the wealth equation.
Here's the place to discuss getting (and keeping!) your money.

Moderator: lvergon

arshdf
Posts: 1
Joined: Wed Apr 25, 2012 12:15 am
Contact:

how to calculate savings interest..?

Postby arshdf » Wed Apr 25, 2012 12:22 am

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.

bill o
Posts: 107
Joined: Fri Mar 16, 2012 7:33 am
Contact:

Re: how to calculate savings interest..?

Postby bill o » Wed Apr 25, 2012 5:14 am

Yep, 10 cents for the whole year... Don't spend it all in one place.

It's more like negative savings.


Return to “Personal Finance”

Who is online

Users browsing this forum: No registered users