Woah... 2.2% APY? Didn't realize the raise...

[Turkish]

How long has it been 2.2% APY? :Q Never realized it. Anyways, INGDirect rocks :beer:

Interest Earned This Month: $6.88

😀

 

[Scouzer]

what does APY stand for anyway? if its a jibberish bank term, whats it mean?

 

[Ns1]

Originally posted by: Scouzer
what does APY stand for anyway? if its a jibberish bank term, whats it mean?

annual percentage yield?


and w00t. at this rate in 34 years or so my 26 dollars will turn into 52 dollars

 

[OrganizedChaos]

Originally posted by: NeuroSynapsis

Originally posted by: Scouzer
what does APY stand for anyway? if its a jibberish bank term, whats it mean?

annual percentage yield?


and w00t. at this rate in 34 years or so my 26 dollars will turn into 52 dollars

i was under the impression that interest rates were still below annual inflation

 

[Squisher]

2.75% here

Still not that great, with all the investing options you have.

 

[austin316]

Originally posted by: Squisher
2.75% here

Still not that great, with all the investing options you have.

um. 2.75, that seems better. I thought ING direct was the shizznit?

 

[austin316]

Originally posted by: XietyCOM
How long has it been 2.2% APY? :Q Never realized it. Anyways, INGDirect rocks :beer:

Interest Earned This Month: $6.88

😀

$6.88 this month? you mus have like $3700 in there or something.

 

[Eli]

Originally posted by: austin316

Originally posted by: Squisher
2.75% here

Still not that great, with all the investing options you have.

um. 2.75, that seems better. I thought ING direct was the shizznit?

AFAIK there are some restrictions, like minimum balance.

 

[JoeKing]

Originally posted by: OrganizedChaos

Originally posted by: NeuroSynapsis

Originally posted by: Scouzer
what does APY stand for anyway? if its a jibberish bank term, whats it mean?

annual percentage yield?


and w00t. at this rate in 34 years or so my 26 dollars will turn into 52 dollars

i was under the impression that interest rates were still below annual inflation

that doesn't mean you don't gain money.... it just means your money is worth less 😛

 

[CChaos]

Originally posted by: austin316

Originally posted by: XietyCOM
How long has it been 2.2% APY? :Q Never realized it. Anyways, INGDirect rocks :beer:

Interest Earned This Month: $6.88

😀

$6.88 this month? you mus have like $3700 in there or something.

I'd guess a bit more since I have quite a bit more and have $2.93 so far this month.

 

[xyion]

Originally posted by: austin316

Originally posted by: XietyCOM
How long has it been 2.2% APY? :Q Never realized it. Anyways, INGDirect rocks :beer:

Interest Earned This Month: $6.88

😀

$6.88 this month? you mus have like $3700 in there or something.

more like 4100

 

[austin316]

2.20% APY / 12 months = .0018333333333 interest a month

$6.88 Interest = .00183333333 * Total in Account

So 6.88 / .00183333333 ~~ $3,753

where is my calculation flawed? or is it because the 2.20% wasn't for the entire month of July.

 

[austin316]

or is it because this is $6.88 for just the couple days so far in August?

.0018333333 / 31 days in a month * 5 days this month = XXX

6.88 / XXXX = account balance of about 23,267 for five days

 

[Turkish]

Originally posted by: austin316

Originally posted by: XietyCOM
How long has it been 2.2% APY? :Q Never realized it. Anyways, INGDirect rocks :beer:

Interest Earned This Month: $6.88

😀

$6.88 this month? you mus have like $3700 in there or something.

Ehh, a bit more than that 😛 But it will be gone by August 23rd, tution payment day 🙁

 

[welst10]

Originally posted by: austin316
or is it because this is $6.88 for just the couple days so far in August?

.0018333333 / 31 days in a month * 5 days this month = XXX

6.88 / XXXX = account balance of about 23,267 for five days

yep