I'm lazy and bad at math, so help me calculate interest

[Mill]

10,000 dollars that earns 7.90 in interest in 8 days means the interest rate is what?

 

[ElFenix]

simple interest?

ok somehow i completely misread that

7.90 = (10000)(x)(8)/365

3.60%

 

[FleshLight]

Pe^RT

10000e^(R(8/360)=10007.90

Solve for R

 

[eelw]

Zero. Zip. Nada. Who the hell gives interest on 8 days????????

 

[Mill]

Originally posted by: eelw
Zero. Zip. Nada. Who the hell gives interest on 8 days????????

Raymond James.

 

[KLin]

are you looking for the APY?

http://www.bankofinternet.com/quickhelp/calcinterest.asp

The site above tells me 8.22%. I divided 8 into 31 days to get # of months.

 

[FleshLight]

3.5535965%

 

[Alkesh]

i thought you got perma-banned

 

[Mill]

Originally posted by: KLin
are you looking for the APY?

http://www.bankofinternet.com/quickhelp/calcinterest.asp

The site above tells me 8.22%. I divided 8 into 31 days to get # of months.

Nah, this is just a checking account. I transferred 10k on the 16, and it said interest accrued up to today was 7.92. I had the wrong number.

 

[Mill]

This is what it claims it does:

http://www.raymondjames.com/cip.htm

So basically it puts it into a money market, but I was just trying to figure out what ray it pays.

 

[RossMAN]

Originally posted by: Alkesh
i thought you got perma-banned

http://forums.anandtech.com/messageview.aspx?catid=38&threadid=1799554