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Am I missing something here? in: Subjects › Investing

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alert mods    
rated:
   posted: Oct. 3, 2009 @ 5:06p

I had two CDs (on the same amount), one for 4% APY for 6 months which then transitioned to 2.5% APY maybe 2% for 6 months with a starting balance of $11,000. How much money should I have received after all was said an done? I've come up with my own rough numbers but maybe I'm doing something wrong or my bank is doing something wrong. Also as an FYI, I believe Citi Compounds interest every day.


   posted: Oct. 3, 2009 @ 5:07p

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alert mods    
rated:
   posted: Oct. 3, 2009 @ 5:28p

lay out your calculations and the ending balance you expected to receive, as well as the ending balance citi said you have?

People will check your work, but Dont expect people to do you work


alert mods    
rated:
   posted: Oct. 3, 2009 @ 6:29p

[11000*1.04*(6/12 months) ]*[1.02*(6 months/12 months)]=$11332 at the end of the first year.


alert mods    
rated:
   posted: Oct. 3, 2009 @ 7:38p

goku2 said:one for 4% APY for 6 months which then transitioned to 2.5% APY maybe 2% for 6 months

Maybe that's what's wrong.

Message edited by: bouledogue on 2009-10-03 19:39:15 CDT
alert mods    
rated:
   posted: Oct. 3, 2009 @ 7:44p

Is that a 360 or 365 day year? And is that a European or African swallow?


alert mods    
rated:
   posted: Oct. 3, 2009 @ 9:47p

SigX said:Is that a 360 or 365 day year? And is that a European or African swallow?
Yellow.... no, Blue!


Waaaaaaaaahhhhhhh!


alert mods    
rated:
   posted: Oct. 4, 2009 @ 1:05a

African swallows are non-migratory.


alert mods    
rated:
   posted: Oct. 4, 2009 @ 1:06a

tripleB said:African swallows are non-migratory.they migrate only when transporting coconuts.


alert mods    
rated:
   posted: Oct. 4, 2009 @ 1:08a

Crazytree said:tripleB said:African swallows are non-migratory.they migrate only when transporting coconuts.

It's a simple question of weight ratios! A five ounce bird could not carry a one pound coconut.


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