Certificate of Deposit

Archive for December, 2009

Question: Algebra Help please?

1. An airplane has an average speed of 475 miles per hour. How far will it travel in 2 1/3 hours?

2. Find the annual interest rate on a certificate of deposit that pays $60 per year in interest on a principal of $750.

3. 5. You have 30 coins in dimes and quarters with a combined value of $5.55. Determine the number of coins of each type.

4. Solve the inequality:
x + 8 > 5

5. Solve the inequality:
3x – 11 < 7

6.Solve the inequality:
8x + 1 > 10x – 11

7. Solve the inequality:
1/3 – 1/2y<12

8. The weekly salary of an employee is $150 plus a 6% commission on total sales. The employee needs a minimum salary of $650 per week. How much must be sold to produce this salary? (Points: 3)

9. Solve the equation:
|x| = -4

10. Solve the equation:
|2x + 3| = 7

11. Solve the equation:
|x - 2| - 2 = 4

12. Solve the inequality:
|2x - 7| < 15

Answer: 9. no solution.

These are trivial exercises. If you do not know how to solve you need to study, otherwise you are toasted.

Question: Question on Certificate Of Deposit (CDs)?

I just came into some money from a car accident I was in. I was told I should put some money into CDs. The Bank I’m with, offers

3.00% APY ***
49 Month CD & IRA CD

so does that mean, at the end of the 49 months If I put in $10k I’ll only earn $300?…That seems a little low. But then again I have no knowledge about this stuff.

Answer: its 3% a year. 49 months is 4 years and a month.

so with $10K starting out, it so be about 11,269 at the end, I think.

Investing & Personal Finance Tips : How to Cash a Certificate Of Deposit

Question: What’s the best CD (Certificate Of Deposit), in terms of earning interest, right now?

If you put in $1000 for the minimum? I have Chase, but d/k how good their interest percentage is..I have heard ING (online?) is good but not sure how credible/legit an online financial service is. Any input and not too complicated terms! dollars per month accrued would make the most sense to me. Thanks!!

Answer: ING is perfectly legit. But I really don’t think it’s worth tying up the money in a CD for these paltry rates. If you don’t already have an emergency fund of 3-6 months expenses, park your money in a Money Market fund in a local bank. Go local so you can get to know your bankers and they will know you. It will serve you well, and be worth the 1 percent many times over.

CD Rates – Part 2