$100,000 CD Bears Interest For 2 Years At 2%

HollyHolly | Dec 1, 2017 | 89 posts since 2015

After the first year, the bank credits the account with 2% simple interest. Am I better off with an acct

bearing interest at 2% where interest is posted monthly and compounded monthly? How much is the difference?

Answers

CTM | Dec 2, 2017 | 179 posts since 2010

Less than $ 20 per year, ~ $ 37 total.

Look at / use the calculator at the link below.

https://www.investor.gov/additional-resources/free-financial-planning-tools/compound-interest-calculator

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