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Mujahideen

12-12-2007 11:39 AM

APY

I want to open up a savings account.

Lets say the APY is 3%. Does that mean if I deposit $1000 into the account, at the end of the year, I would have $1030?

Sorry for being a newb :banghead:

Sparky

12-12-2007 01:32 PM

Re: APY

Yes........

Mujahideen

12-12-2007 02:13 PM

Re: APY

Wow that sucks........... I mean I could make more money doing other things....

Thats the best they can do? I have not seen many banks offering more than 4-5% apy.

Sparky

12-12-2007 03:14 PM

Re: APY

Plus, after a year, that $1030 will be able to buy a bunch of stuff that you can buy for about $950 today.

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