Banks usually list the APY rather than the monthly rate. APY is short for annual percentage yield, a measure of the interest rate that takes into consideration the number of times per year interest is compounded. However, if you are calculating the interest that accrues on your account each ...
My Real Interest Rate APY4.07% Inflation Rate (CPI) *- 8.50% Real Interest Rate-4.43% * - The Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. CPI measurement taken from bl...
Multiply the result from step 5 by 100 to convert to a percentage to find the interest rate. For example, you would multiply 0.053660387 by 100 to find the interest rate equals about 5.366 percent if the APY is 5.5 percent and interest is compounded monthly. With this information on hand, ...