The Truth About APY and Your Money
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The Truth About APY and Your Money
Andrew Kadjeski discusses the importance of earning a return on your cash through interest rates, specifically focusing on APY (Annual Percentage Yield). Learn why the national average savings account APY in the U.S. is just 0.42% and how you can avoid leaving money on the table. Don’t miss out on these valuable insights to help you make the ...
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⚠️Disclaimer: I’m using the standard formula for the future value of an ordinary annuity to show how compounding interest works. I’m not 100% sure if my calculations are correct, so if there are any mistakes, I apologize. The purpose of this video is to illustrate the power of compound interest. I’m open to corrections. Thank you. Formula Used: \t•\tFuture Value of an Ordinary Annuity: FV = P \\cdot \\frac{(1 r/n)^{n \\cdot t} - 1}{r/n} ⚡ Key Variables: \t•\tFV: Final amount at age 60 \t•\tP:
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⚠️Disclaimer: I’m using the standard formula for the future value of an ordinary annuity to show how compounding interest works. I’m not 100% sure if my calculations are correct, so if there are any mistakes, I apologize. The purpose of this video is to illustrate the power of compound interest. I’m open to corrections. Thank you. Formula Used: \t•\tFuture Value of an Ordinary Annuity: FV = P \\cdot \\frac{(1 r/n)^{n \\cdot t} - 1}{r/n} ⚡ Key Variables: \t•\tFV: Final amount at age 60 \t•\tP:
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