How often is interest paid on savings accounts 2024?
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Studied at the University of Barcelona, Lives in Barcelona, Spain.
Now, compounded annually, a deposit of $10,000 would produce $400 in interest during the first year. However, if the bank chose to compound quarterly, instead of paying 4% at the end of the year, interest would instead be paid at 1%, four times each year.
2023-05-09 11:51:26
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Charlotte Harris
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Now, compounded annually, a deposit of $10,000 would produce $400 in interest during the first year. However, if the bank chose to compound quarterly, instead of paying 4% at the end of the year, interest would instead be paid at 1%, four times each year.
