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Am I missing something here?

Archived From: Finance
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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

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
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.
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.
posted: Oct. 3, 2009 @ 7:44p

Is that a 360 or 365 day year? And is that a European or African swallow?
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!
posted: Oct. 4, 2009 @ 1:05a

African swallows are non-migratory.
posted: Oct. 4, 2009 @ 1:06a

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