Ginevra Posted March 17, 2013 Share Posted March 17, 2013 Please help someone who doesn't understand this mathematically. :leaving: I'm looking at bank CDs. The APY for the shortest term CDs are listed as "0.40%" Is this four-tenths of one percent? Is it four percent? How would I enter this into a calculator to understand the interest rate? Quote Link to comment Share on other sites More sharing options...
LaxMom Posted March 17, 2013 Share Posted March 17, 2013 It's four tenths of one percent. Quote Link to comment Share on other sites More sharing options...
regentrude Posted March 17, 2013 Share Posted March 17, 2013 0.40% is 4 tenth of one percent. Since a percent is one hundredth, so this means 4 thousandth. If you have a sum of x, finding 0.4% of X would mean multiplying X by 0.004. (which is equivalent to multiplying X by 0.4 and then dividing by 100). Quote Link to comment Share on other sites More sharing options...
Guest Posted March 17, 2013 Share Posted March 17, 2013 Thanks! But geez...that's really lousy. I guess I knew that, though. Quote Link to comment Share on other sites More sharing options...
Dana Posted March 17, 2013 Share Posted March 17, 2013 That's why my money is sitting in savings. I've finally got enough to actually get a CD but rates are so low it's just not worth it! Quote Link to comment Share on other sites More sharing options...
Guest Posted March 17, 2013 Share Posted March 17, 2013 That's why my money is sitting in savings. I've finally got enough to actually get a CD but rates are so low it's just not worth it! Yeah, I hear ya. We have a saving account that has some money sitting in it. It hasn't been touched because it's an old account that was dh's before I was arround. My name is not on the account, so I can't move it, but I was going to suggest that he put it in a CD. Only it may make no difference anyhow with that interest rate. :glare: Quote Link to comment Share on other sites More sharing options...
Mrs Mungo Posted March 18, 2013 Share Posted March 18, 2013 You could try a money market. Some of them are doing a little better than a savings account. Quote Link to comment Share on other sites More sharing options...
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