If someone put 1 million dollars in a bank account, what would they earn in interest in a year?
Interesting question, and as soon as I saw it, I did the math. Here’s the thing, though. You have to define “savings.” I’m going to assume the searcher meant “savings account.” But even then, are we talking regular brick-and-mortar bank savings account, or a high-yield savings account?Let’s assume you put the money in a savings account, and took out the interest every year to live on.$1,000,000 in a brick-and-mortar savings account, earning 0.02% a year (pretty standard), would earn only $2,000 – could you live on that?$1,000,000 in a savings account earning 5% a year would yield $50,000. How about $50,000 – could you live on that?Most banks offer an account that will pay you a higher interest rate if you keep a significant amount of money in the account – $1,000,000 certainly counts as a “significant amount.” For example, Bank of America offers a Money Market Savings Account that would pay 1.55% on $1,000,000 – thus yielding $15,500 on your cool million.What about insurance? Well, the Bank of America account says it’s FDIC insured “to the maximum amount allowed by law.” I’m not really sure how much that is, but I do know that most online high-yield savings accounts are insured up to $250,000. Maybe you should just spread your million out between savings accounts at four different banks!Still, the Bank of America money market account doesn’t give you as good of a rate as an online savings account: ING’s Orange Savings offers 2.75% APY on any balance – whether you’ve got $1 or $1,000,000 in there. On $1,000,000 that would be $27,500 a year – perhaps that’s a bit closer to money you can live on?Ideally, though, if you have a million dollars, you might want to look into investing it in something a little more aggressive than a savings account, especially if you’re young and you don’t have to live off the money.
Has "Preferred Platinum" taken anyone to court? And what will happen if I don't pay?
The FTC says that debt collectors can't legally call me, cuss me out, and harass me like this, especially if they never claimed that I would owe them money, until well after the call was placed. Why should I have to pay for something that I was told was free? It's like going into a store, getting a free sample, then being called and told that you owe the store hundreds of dollars. I just want to know if anyone has been taken to court by these people? Online, it seems like TONS of people have had this same issue, but I haven't seen anything about anyone being taken to court.
What should a 13 year old boy spend money on?
Well I'm 13 years old, and over the past year or so i've been doing a lot of work for neighbors/people and have been able to gather about $800 altogether. Half the fun has been saving up all the money but now I'm wondering whether or not I even Will spend it..After all I know i'd love to have the extra cash in college/highschool.. I wanted to buy a good computer at first but now I'm not sure,.. if I get no good ideas I'm putting it in a college fund, please don't lecture me on how i shouldn't have this much money at this age because i did put well over a hundred hours into it instead of playing video games or something else.. so any ideas? or should i save it?
How do you find your credit card number without your card?
I can think of a few waysCheck your credit card statement / billCheck any other official correspondence made from the bank / credit card issuer.If you have access to the account online, sign in and get the details from there. (I have a no-annual fee credit card which I use only for certain purposes and don’t carry around with me. I had to use this method to find the card number at times)Call the helpline number. Verify your identify and they might help you out or issue a duplicate/new card.Go to the bank directly and seek help, with necessary identification.
Does anyone know what EPOCH.COM is????????
I saw this and a bunch of fraud charges on my bank account. I did take care of those fraud charges & getting my money back but for this charge I don't see a contact number at all... Can anyone help me???