If i put one thousand dollar in a fixed deposit account and the interest is 3.7 per year, how much is that?

Question

If i put one thousand dollar in a fixed deposit account and the interest is 3.7 per year, how much is that?

Answer 1

You need to provide a little more information for a correct interest amount.  Is the interest compound daily or is it a simple interest deposit?

Answer 2

The first year the interest will be $37, the second year $38.37,and so on.

Answer 3

1000 x 0.037 = $37

(Virtually all Fixed deposit accounts will quote the rate as Annuallized, so you can usually assume it is Not compounded)