stupid question

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Subject Author Date stupid question finwicke 04-05-2007  Re: stupid question Daniel T. 04-05-2007  Re: stupid question PeterL 04-05-2007
Posted by finwicke on April 5, 2007, 5:19 am i saw a bank offering: "4.75 percent for three-month term deposits" does this mean that if $10,000 is deposited, three months later i would have $10,475? thank you- go solar Posted by Daniel T. on April 5, 2007, 7:48 am > i saw a bank offering: "4.75 percent for three-month term deposits" > does this mean that if $10,000 is deposited, three months later i > would have $10,475? No. You would have somewhere around $10,119 depending on how it is compounded. Here is a handy CD calculator <http://www.bankrate.com/brm/calc/cdc/CertDeposit.asp> Keep in mind the 4.75% is an annual yield, so if you are keeping the money invested for 3 months, you would only get a fourth of that. Posted by PeterL on April 5, 2007, 12:37 pm > i saw a bank offering: "4.75 percent for three-month term deposits" > does this mean that if $10,000 is deposited, three months later i > would have $10,475? > thank you- go solar It's most likely an annual percentage rate. Similar Threads Posted Stupid T-Bill question... January 19, 2007, 8:52 am This really sounds stupid, but would it work? April 26, 2007, 4:56 pm IRA question January 8, 2007, 5:00 am 529 question January 11, 2007, 4:41 pm TVM Question, please help February 8, 2007, 4:33 pm S.S. Question, Please September 1, 2007, 8:40 pm 403(b)/457(b) question October 3, 2007, 4:24 pm Re: Another Soc Sec question October 30, 2007, 11:29 am RMD question January 17, 2008, 1:04 pm SEP question May 16, 2008, 8:17 am