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If you mean 5.8% annual interest rate compounded monthly, then (1000*.058)/12 = 4.83

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βˆ™ 16y ago
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βˆ™ 4y ago
58 a month ending in 696 a yearΒ 

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Q: What is the monthly return of 1000 invested in saving account with 5.8 monthly interest?
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Is savings account interest accrued and posted monthly?

It depends on the terms and conditions etc of the type of savings account. Some savings accounts have interest calculated monthly (on daily balances), and credit the amount of interest to the account monthly. Others do an annual calculation of interest, also based on daily cleared balances, but only credit the account once a year. If interest is credited each month, each subsequent month you also get interest on the interest previously credited to the account. Alternately, if the interest is paid/credited only annually, the sum credited is the total interest for the year. Interest rates are quoted taking these factors into account. An account which credits interest monthly will always pay a slightly lower Gross rate of interest than an account that has an annual interest period. This is to take account of the fact that the return on an account where the balance is increasing monthly (due to interest being added each month) will always give a higher return in the year compared to an an account with the same Gross interest rate, but which is calculated and credited only once a year.


How much interest would you earn of a 30000 investment?

Depends on how you invested it and what rate of return that investment delivered.


How much interest per month is an investment of 150000 at 4 percent?

That would really depend on the investment strategy, are you getting 4% per month, per year or per week (yes they are all possible)? 4% of $150,000 is $6,000. If your interest rate is annual then monthly return would be $500. If your interest rate is monthly then it would be $6,000 and of coarse weekly interest rate of 4% would give you $24,000 monthly. It all comes down to interest rate over what period of time then factored by the month. 6000$


What does a financial adviser do?

people give money to a financial advisor and he invests the money for them hoping to get a great return for the money invested.


What kind of an account are sales return and allowances?

Sales Returns and Allowances is a contra income account.

Related questions

Is savings account interest accrued and posted monthly?

It depends on the terms and conditions etc of the type of savings account. Some savings accounts have interest calculated monthly (on daily balances), and credit the amount of interest to the account monthly. Others do an annual calculation of interest, also based on daily cleared balances, but only credit the account once a year. If interest is credited each month, each subsequent month you also get interest on the interest previously credited to the account. Alternately, if the interest is paid/credited only annually, the sum credited is the total interest for the year. Interest rates are quoted taking these factors into account. An account which credits interest monthly will always pay a slightly lower Gross rate of interest than an account that has an annual interest period. This is to take account of the fact that the return on an account where the balance is increasing monthly (due to interest being added each month) will always give a higher return in the year compared to an an account with the same Gross interest rate, but which is calculated and credited only once a year.


What bank account pays you the most interest monthly?

They are called CD's (Certificate of Deposit) or FD's (Fixed Deposits) You deposit a certain sum of money for a fixed duration of time. in return the bank pays you a higher rate of interest when compared to your checking or savings account


How much interest would you earn of a 30000 investment?

Depends on how you invested it and what rate of return that investment delivered.


Does the IRS tax you on your checking account without interest?

No. If your checking account in non interest bearing, then the you will have no interest to report on your income tax return and therefore no tax to pay.


Compound Interest and Your Return?

Compound Interest and Your Return How interest is calculated can greatly affect your savings. The more often interest is compounded, or added to your account, the more you earn. This calculator demonstrates how compounding can affect your savings, and how interest on your interest really adds up!


What is a high interest savings account?

With a high interest savings account, the saver can get a large return on their savings. At current rates, the interest can range between 3-5%. However a large amount of accounts with higher interest may impose a penalty if you withdraw from that account.


What is equity in balance sheet?

Equity in balance sheet is that account in which owner has invested money in business and business is liable to it's owner to return.


What exactly is a high interest savings account?

With a high interest savings account, the saver can get a large return on their savings. At current rates, the interest can range between 3-5%. However a large amount of accounts with higher interest may impose a penalty if you withdraw from that account.


What are the typical minimum deposit requirements for high interest savings accounts?

I have found to get more than 1.5 % return on savings, you need a minimum of $10,000 to be invested.


What are the disadvantages of having too much or too little money held as liquid assets?

Disadvantages of having "too much" $ held as a liquid asset: 1. No profit & lost investment opportunity. If $ is held in a non-interest bearing account, no interest will be earned--no interest earn = no profit--no profit = lost investment opportunity. 2. Low return on investment. If the $ was invested in a low interest bearing account, then low return on investment would be realized. Since not all investments have the same rate of return, there is also an opportunity cost (the $ could have been invested in a different investment at a higher return). Disadvantages of having "too little" $ held as a liquid asset: 1. In options trading, it could result in greater loss when the market dips & your options are liquidated to pay for the dip, rather than if you have the $ in your account & that could have been used to potentially carry your investments over until more profitable conditions occurred. 2. If you need $ for an emergency & you don't have it, you have an undesireable condition occur that wouldn't have occurred if you have the $ or credit available to pay for the emergency.


How market competitive are savings bonds?

Their rates of return are generally comparable to other forms of savings and accrue interest monthly and compound semiannually.


How do highest cd interest rates affect me?

If you have funds invested in CDs, a higher rate will result in a greater return. Higher rates are usually given for longer terms of investment.