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After 7 months you will both have $175.
The plural of 'month' is months.
48 days is about 1½ months. (1.58 average months, 1 month and 17 or 18 days). There is no fixed number of days in a month, but the average is 30.4 days a month.
March (3rd month) September (9th month)
There are 12 months in a year so there is .5 of a year in 6 months
After 7 months you will both have $175.
It would take 6 months.
I am opening an account which is 2.3% interest. If I have 10,000$ which the interest is calculated daily, will I recieve the 230$ interest per month, or 230/12 months
The possessive form is more than one month's.Example: I have more than one month's salary in my savings account.
An Orange account is a savings account offered through ING Direct. The money in your Orange savings account builds interest daily and then it is compounded every month. That money is then made available to use on purchases at the end of each month.
One limitation of a savings account is the amount of withdrawals you can make per month. Unlike a checking account, which let's you withdraw money until there are no funds left, savings accounts are restricted to 6 withdrawals per month. Another limitation is that withdrawals usually can only put into a linked checking account- you can't directly transfer funds from a low-interest savings account to a savings account with a higher yield.
You should save enough so that eventually you have 8 months' salary in a savings account.
Money market account
To save $2,000 in a year, you would need to save approximately $167 per month. This is calculated by dividing $2,000 by 12 months. If you want to account for any interest from a savings account, you might save slightly less each month depending on the interest rate.
To save $10,000 in 18 months, you need to set a monthly savings goal of approximately $555. Start by creating a budget to identify areas where you can cut expenses and allocate those savings toward your goal. Consider setting up an automatic transfer to a separate savings account each month to ensure consistency. Additionally, look for opportunities to increase your income, such as a side job or freelance work, to help reach your target faster.
In 9 months, you can expect the savings to be 9 times as much as in one month.
1850 * 0.15 = 277.5. In a month he saves $277.50, so in 12 months he will save 277.5 * 12 = 3,330. $3,330.00 is the answer.