Results 1 to 2 of 2

Thread: Rates (2000)

  1. #1
    2 Star Lounger
    Join Date
    Dec 2002
    Posts
    192
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Rates (2000)

    Hi, what is the formula for CD earnings. If my kids put $1000.00 into a CD for 1 year at 5.41% I'm not sure which formula will work for us.
    Thanks

  2. #2
    Uranium Lounger
    Join Date
    Jan 2001
    Location
    South Carolina, USA
    Posts
    7,295
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Re: Rates (2000)

    If the interest is compounded monthly, the formula below will give the value of the CD at the end of 1 year:

    <code>
    =FV(0.0541/12,12,0,-1000,0)
    </code>
    Legare Coleman

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •