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, you can begin to plan smart financial strategies which guarantee that both your short ...
but you may need to do extra work to figure out your actual rate. You can use our mortgage calculator (below) to see how your principal payment, interest charges, taxes, and insurance add up to your monthly mortgage payment.
Shopping around for a mortgage won't hurt your credit as long as all the inquiries come in a short period of time -- typically a month or less -- according to theFair Isaac Corporation. Step 1 Divide the interest rate by 12 to figure the monthly rate. For example, if your 30-year ...
How to calculate APY You can calculate the APY on any account you’re considering a few different ways if you like to figure things out for yourself. By hand If you want to go old school with paper and pencil (and maybe a calculator), just apply the basic formula for APY, which takes...
If you’ve ever compared savings accounts, trying to figure out the true benefits, then you know how daunting these tasks can be, especially when relying on interest rates alone. However, a firm understanding of APY can dramatically simplify these comparisons. In the following guide, we’ll ex...
To make sure you’re on the right track, you may want to check out the IRS’s instructions regarding Schedule SE, which will help you figure out you tax due on your net earnings. Next, apply the 15.3% tax rate to the amount subject to the self-employment tax. Then, ...
Annual Percentage Yield (APY) 4.01% APY Minimum balance $0, no minimum deposit or balance needed for savings Fees No monthly maintenance or service fees Overdraft fee Overdraft fees may be charged, according to the terms; overdraft protection available ATM access Free ATM card with unlimited withdr...
Price: No monthly fees or trading commissions on stocks and ETFs through E*Trade’s Custodial AccountMost people know E*Trade as one of the leading providers of individual brokerage accounts, but you can also put the powerful platform to work saving for your child’s future, through a custodi...
"The 4% rule was devised to figure out the largest percentage of your investments you can take out in the first year of retirement and still be highly confident that you won't run out of money," Young explained. "The rule assumes that you withdraw 4% of your investments the first year...
For those who suddenly find themselves out of a job or have their hours cut back, it can be confusing to figure out what to do with your finances. Select spoke with Stefanie O'Connell Rodriguez, host of Real Simple's Money Confidential podcast, to find out more about how to analyze your...