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
17 years ago
stupid question
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- posted
17 years ago
No. You would have somewhere around $10,119 depending on how it is compounded. Here is a handy CD calculator
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.
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- posted
17 years ago
It's most likely an annual percentage rate.