by junior on July 7th, 2008

Question

Help answer this question below.

Capital Trust offers a savings accounting with 6% interest compounded monthly, while South Market offers a savings account with 6% interest compounded quarterly. Which account is better and why?

Like
Report

Share:: Facebook; Twitter; Other

Answers. 1 helpful answer below.

by Farino on July 8th, 2008
The compounded monthly one would increase the interest by 6% every month. So by the end of the year £100 interest would become £201.22.

The compunded quarterly one would increase the interest by 6% every 3 months. So by the end of the year £100 interest would become £126.25.

Therefore, the monthly one is better.
Comments
Add a comment...
- Like
- Report
No comments. Post one | Permalink

Did this answer your question? If not, then ask a new question or create a poll.

More Questions. Additional questions in this category.

Where did the distance formula originate?
by Answerbag Staff on May 6th, 2010 | 1 person likes this
use the area of interpretation to answer 23 x 14
by tmmycsh1208 on August 2nd, 2010 | 1 person likes this
i have to pay 30% per cent of 37486 to rent how much will my monthly rent be? 37486 is my annual income and i live in public housing
by diva23 on July 29th, 2010 | 1 person likes this
how long does it take to travel 3.3m if travelling at 20mph
by fijifray1 on August 5th, 2010 | 1 person likes this
Can you covert .6 1/4 to a decimal? Math majors don't answer this please.
by angel1000 on November 30th, 2010 | 1 person likes this
More General Arithmetic See only professionally researched General Arithmetic questions

You're reading Capital Trust offers a savings accounting with 6% interest compounded monthly, while South Market offers a savings account with 6% interest compounded quarterly. Which account is better and why?

Follow us on Facebook!

Related Ads

Professionally Researched

ANSWERBAG BUZZ

Capital trust offers a savings account with 6 interest compounded monthly while south market offers a savings account with 6 interest compounded quarterly which account is better and why

Capital trust offers a savings accounting with 6 interest compounded monthly while south market offers a savings account with 6 interest compounded quarterly which account is better and why

Captial trust offers a savings account

Savings accounting

Capital trust savings account

About Us

About Answerbag

Sitemap

Professionally Researched Questions

Legal

Privacy Policy

Terms of Use

Disclaimer

Ad Choices
Follow Us on Facebook

Answerbag.com
Your favorite Q&A site is on Facebook! Become a fan to connect with the ever-growing community of Answerbaggers, share your thoughts and find out what Answerbag's up to next!
Latest Tweet

What is the very worst thing you can do in an interview? http://t.co/3QoM2mLE

Follow Answerbag on Twitter!

Answerbag

Question

Capital Trust offers a savings accounting with 6% interest compounded monthly, while South Market offers a savings account with 6% interest compounded quarterly. Which account is better and why?

Answers. 1 helpful answer below.

Comments

Did this answer your question? If not, then ask a new question or create a poll.

More Questions. Additional questions in this category.

Follow us on Facebook!

Related Ads

Related Questions

Is anyone fooled by offers of 6% on savings (up to £2500, Abbey and A&L) which are linked to moving into a current account which incurs a monthly fee consuming at least 80% of the interest paid?

I have $100 in savings,which pays annual interest 6% compounded semiannually, I withdraw $100 after 6 months. what is my ending balance be 20yrs after initial 100 deposit was made?

If I put $800 a month into a savings account that is connected to a interest account and transfer the said interest to the savings account every 6 months in about 10 years will I be rich?

How much more interest will be earned if $9000 is invested for 6yrs at an annual rate of 9% compounded continuously, instead of at 9% compounded quarterly.

If you put $1000 into a bank account that earns an interest rate of 6% compounded semi-annually, what will be the account balance at the end of 5 years?

Professionally Researched

How do I calculate interest compounded quarterly?

What is the average interest rate for a personal savings account?

How do I calculate the interest earned on a savings account?

How much interest does one typically get from a savings account?

How do I compare credit union savings account interest rates?

ANSWERBAG BUZZ

Answerbag.com
Your favorite Q&A site is on Facebook! Become a fan to connect with the ever-growing community of Answerbaggers, share your thoughts and find out what Answerbag's up to next!

Question

Capital Trust offers a savings accounting with 6% interest compounded monthly, while South Market offers a savings account with 6% interest compounded quarterly. Which account is better and why?

Answers. 1 helpful answer below.

Comments

Did this answer your question? If not, then ask a new question or create a poll.

More Questions. Additional questions in this category.

Follow us on Facebook!

Related Ads

Related Questions

Professionally Researched

ANSWERBAG BUZZ

Answerbag.com Your favorite Q&A site is on Facebook! Become a fan to connect with the ever-growing community of Answerbaggers, share your thoughts and find out what Answerbag's up to next!

Answerbag.com
Your favorite Q&A site is on Facebook! Become a fan to connect with the ever-growing community of Answerbaggers, share your thoughts and find out what Answerbag's up to next!