All Questions
Tagged with compound-interest savings-account
5
questions
-1
votes
1
answer
247
views
Need help in calculating interest on daily savings account
Preamble
I would like to open a savings account in one of "Big 5" banks in Canada. Many banks are offering so called "daily savings" accounts.
My calculation
Not to name any names, ...
- 109
6
votes
4
answers
589
views
Financial pros and cons of having a rainy day fund in a savings account versus invested?
I used to have about 4 months of expenses in a savings account as a "rainy day fund" in case of emergencies.
The last year or so, though, I've switched to having a minimum of expenses (about ...
0
votes
1
answer
891
views
How do I calculate Compound Interest with changing monthly contributions, quarterly contributions, and changing interest rate
John currently has $100 in a saving account that compounds quarterly at a .25% interest rate. When the account's balance reaches $2500 or more, the interest rate will change to .05%. I want to figure ...
7
votes
3
answers
4k
views
How to calculate savings account interest if you deposit and withdraw irregularly?
It's easy to calculate interest on a fixed principal. If you have for example $1000 deposit on your savings account and the rate is 0.25% compounded every whatsoever and you want to know how much is ...
- 71
3
votes
2
answers
2k
views
interest compounded daily vs monthly
I want to compare two saving accounts with same APY, but one has interest "compounded daily and credited monthly" and the other has interest "compounded monthly and credited monthly". Which will yield ...
- 131