 Can a son or daughter fight who is named beneficary in dad's 401k. no will.? |
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son or daughter was not named a beneficary in 401k. dad is deceased no will. can be fight the person named ... |
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 U.S Should stop making pennies? |
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**LIBERTY** | If you deposit money today into an account that pays 6.5 percent interest, how long will it take? |
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Karen M
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The two previous responses do not take compounding interest into account.
There are calculators to help answer such questions at http://www.bankrate.com.
6.5 percent is likely an annual percentage rate, and contrary to what someone else said, it's not bad for a no-risk savings account.
There is a factor associated with a 6.5 APR that must be multiplied by the principle deposit/investment to determine the amount of the quarterly interest accrued/ROI. Each quarter, the factor is applied to the accumulated product. Because of this, $100 is not NECESSARILY worth exactly $106.50 after a year's time. |
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J T
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It would depend on the maturity date of the account. Maturity dates are not all the same - that depends on which you choose. Most give options like 6 mos, 12 mos, 24 mos, 36 mos, etc. Usually , the fewer the months, the less interest. |
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whatevit
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This is the RULE OF 72: With the know interest divide it into 72 and you will have the number of years the principal will take to double. 72/ 6.5% = 11.07 years.
Is this what you wanted to know? |
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Scott K
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how long will what take, they pay 6.5% annualy so lets say you depost 100 dollars, after one year you would have 106.50 in your account |
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k_e_p_l_e_r
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Depositing money in a savings account only takes a few seconds |
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Ralfcoder
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How long will it take to do what? |
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stick man
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It will take a long time. |
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q6656303
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years and years its not much |
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Josher
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That question makes abosolutely no sense.
But what I think you are asking is how long will it take that account to pay you back 6.5% of you money in interest. An example being a savings account or a CD.
It would take a year. |
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