If I put $500 into my savings account and the interest is 4.5% per year, how much would I get in 1 year?
If you had an annual percentage rate of interest at 4.5% and a $500 balance, you would accrue $22.50 over 1 year. Also take into account there may be bank fees which eat into this so always read the fine print any time you deal with money! ChaCha on!
Answered by Kristopher S. -
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