How much would u get in a year with a 3.00% APY in a savings account?

Question

so if i put in $1000 i would get $30 a month or year

Answer 1

It depends on how much you put in the account.   $1000 would give you $30 in simple interest at 3%.  Sorry, $30 for 1 year with $1000 in the account.

Answer 2

Here is the simple interest formula.

Principal x Rate x Time = Interest

$1,000 x .03 x 1 (yr) = $30

Checkout bankrate.com to get higher rates by having an online savings account.  3% is kinda of low.  You can do better elsewhere.

Answer 3

$1,000 will give you $30/year.

Or about $2.50 a month....