Cryptocurrency Q&A
How much is $1000 with 5% APY?
How much is $1000 with 5% APY?
Riccardo
Thu Nov 21 2024
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6 answers
1921
I want to know how much money I will have if I invest $1000 with a 5% annual percentage yield.
6 answers
CryptoPioneer
Sat Nov 23 2024
Investing a thousand dollars into an account with an annual interest rate of 5% would theoretically yield fifty dollars in interest by the end of the year.
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QuasarStorm
Sat Nov 23 2024
The interest earned can vary depending on how often the interest is compounded.
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Lucia
Fri Nov 22 2024
If the interest rate is 5% but the interest is compounded monthly, the effective annual percentage yield (APY) would be higher.
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ethan_thompson_journalist
Fri Nov 22 2024
Specifically, with monthly compounding, the APY for a 5% annual interest rate would be 5.116%.
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SolitudePulse
Fri Nov 22 2024
This means that by the end of the first year, the investor would have earned an additional amount over the simple interest calculation.
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