epbr123
 |
about $100,000 if annual interest rate is 6% |
|
SALMON
|
Depends on the rate of return
but if you had 100,000 @ 6% you would get 6,000 annually
6000/12=500 |
|
devast725
|
I think ING direct has a fairly good savings account interest rate. |
|
babygurl
|
add on what your interest rate i would love to know this one! |
|
law-inspired
 |
@2 % - 25,000 = the normal rate
@4 % - 12,500 |
|
Kismitt
|
Around or maybe a little over 100 thousand. |
|
rubic69@sbcglobal.net
 |
That depends on your interest rate. |
|
joe m
 |
The obvious answer is it depends on the going rate. Typical rates in my area run just about 5%. (typical rates on 12-15 month bank certificates FDIC insured).
To earn $500. the would require the amount to yield $6000 per year. and if PRT= I (Principal X Rate X Time equals Interest
we find Principal X 1 year X 5%=$6000
Thus, $6000/.5= $120,000
Proof $120,000 X .005 = $6000/12=$500 |
|
Jeff
|
Depends on what your interest rate is. |
|
iamsoboredandtired
|
How much is your interest rate? |
|
Jones
 |
$100000 |
|
regerugged
|
Annual interest is total is $6,000.00. Divide that amount by the interest rate. 6000/.05 = 120,000
6000/.06 = 100,000. |
|
BUBBLES
|
Depends on your intersted rate... you would prob be better off with a bond that would give you a better rate.
So we'll say 2% which is really high.... then $25,000 |
|
SWANY
|
principal (1+interest rate)^number of periods=fv |
|
cese1
 |
whats the interest rate?????????????!?!?!?!?!?!??! then i can tell you |
|
◄☯♫ vanitee of vanitees ♫☯►
|
depends on the interest rate of ur bank and ur account type...
call the hotline and ask what the rates are... add details and i will work it out 4 u. |
|
Donny
|
Easy to compute IF you know interest rate. Formula is:
P = Amount of Money Needed (Also called Principal)
i = interest rate. (generally this is going to be your investment rate of interest, e.g. 3% or 4% per year).
i/12 = per monthly rate.
P = $500 * 12 / i
Thus at 4% invested interest rate you would need $150,000.
Another concept would be an ANNUITY from an insurance company where they would pay you $500 per month for the rest of your life IF you gave them approx. $140,000. At the end of that time they would keep any remainder OR in some cases pay your family back the balance if they had underpaid (some clauses). |
|
| |
|
Homepage 
Financial
Forum 
Personal Finance 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
