How much money will be in my savings account after 1 year?

Question

I have $300 in it, the interest rate is 0.2%, and interest is compounded daily and paid monthly. Please help and I will give ten points for the best answer.

Answer 1

622 dollars... use excel function.. very easy...

i hope i am right, otherwise what am i gonna do without the ten points????

Answer 2

.2% is 6 dollas LOL

it doesnt matter unless you keep adding money and dont touch it

but if you realy want to see something build up ask your banker about a CD account ...those have higher rates around 3-4.66 depending on the market ...but you cant touch your money and if you do you get penalized ....there all sorts of things talk to them than shop around in another citie if you fin some thing better some where else go bck and threaten to pullout all you money unless they can beat the better rate

it should work

but a CD account would be on the side since you cant touch it

oh you can start with 300 but 1000 will get you more reespect

good luck