michael ward
New member
I just opened a savings account (October 21, 2010) with an opening fee of $25.00. I selected to have $20.00 directly pulled from my neighboring checking account once a month each November, 17th through November of 2012. I selected a disbursement date of Dec 21, 2012. This means the money from the savings account will be directly deposited back into the Checking account on Dec 21, 2012. With a .15% APY rate, what will be directly deposited back into my checking on Dec 21, 2012. I know it's easier to make the test than to take it. I've always thought that.........
Anyway, If there were no interest on the savings, I've come up with $545.00. I've also come up with a number with the interest but I'm questioning the result.
Reply's are appreciated.
Thanks and regards,
Bill
Ok, So I've put $25.00 in already and from my calculations, I will save $20.00 a month for 26 additional months. This leaves me with 545 dollars without considering APY. What will my actual realized amount be with an APY of .15%?
Anyway, If there were no interest on the savings, I've come up with $545.00. I've also come up with a number with the interest but I'm questioning the result.
Reply's are appreciated.
Thanks and regards,
Bill
Ok, So I've put $25.00 in already and from my calculations, I will save $20.00 a month for 26 additional months. This leaves me with 545 dollars without considering APY. What will my actual realized amount be with an APY of .15%?