If I buy a 90 day CD in the amount of $2500.00 and the rate is .75, how much will I earn at maturity?
Your bank can give you a more accurate figure that takes into account any compounding, but an approximation is the princely sum of $2,500 x 90/365 x 0.0075 = $4.62. You might want to walk the money to the bank to avoid burning up your profits in gasoline.
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Your bank can give you a more accurate figure that takes into account any compounding, but an approximation is the princely sum of $2,500 x 90/365 x 0.0075 = $4.62. You might want to walk the money to the bank to avoid burning up your profits in gasoline.
