how much interest is made per day if you have 675,000.00 in a savings account?how much in a cd?please show me
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It depends on the interest rate. If you assume the interest rate on the savings account is .5%, then the daily interest is $9.25.
$675,000 x .005 divided by 365 = $9.25.
If you assume the interest rate on the certificate of deposit (CD) is 2%, then the daily interest is $36.99.
$675,000 x .02 divided by 365 = $36.99.
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My savings account has an annual interest rate of 3.15%, so I would make $59.06 daily. Remember it compounds too, so it will go up slightly.
If you want to figure this out yourself for different values, just take the percentage rate and divide it by 100, then divide by 12 for per month, or by 365 for per day, and then multiply that by the amount.
Daily intrest income for $675k?
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