Is there any banks that have continuous compound interest? If not what is the closest that you know of?
448041
Daily, continuous is physically impossible.  True continuous compounding requires infinite divisibility of time.  You could for example deposit and withdrawal money in 6 times pi seconds if you wished and it could be measured and have meaning.  There is trivial difference between daily and continuous compounding.  For that matter, quarterly compounding is trivially different.  More importantly, as long as APY is identical and the asset is held to maturity, compounding methods are irrelevant except for purposes of taxation.
132230
check Schwab.com , Fidelity.com, Vanguard.com, Ameritrade.com, ETrade.com, Scottrade.com, Tradeking.com\n\nthey allow offer other firms funds to some degree, some without extra charges.
1036940
If you dont plan on touching the money for a while, a CD would be good. They have interest rates around 4 percent.
30307
Talk to a local bank that keep there loan in house rather then selling the note on the secondary market.\n\nConsider private finacing. A yield at 8 to 8.5% would be nice on a ten year note.\n\nPerhaps you may know someone in the family that can help. 3% on your money is not much of a yield on a savings account.
994193
I sure can.  It is neat to find someone who is looking for practice--I really appreciate that.\n\nSo if I have $20,000 invested for 3 years at 5.5% (compounded annually), how much interest do I earn?\n\nHow about if I have $7,500 invested for 12.5 years at 3.75% compounded annually?\n\nAnd finally, what if I have $12,000 invested for 5 years at 4.8% compounded monthly?\n\nHere are the answers you should get (all rounded to the nearest cent):\n$3,484.83\n$4,382.63\n$3,247.69
1145811
which country are you talking about?\nIf USA, go to the below site.\nAmong Big Banks, Chase gives 5% on short term deposits.\nBanco popular gives a little higher. HSBC has a nice online savings account.
1091015
You can open a basic savings account to accummulate the money at the beginning. Any major bank would support an online account.
502001
Think a repayment type is best\nI usually choose a tracker\nit has variable interest rate that is fixed 1 or 2 percentage points above bank of england base rate
495520
It is best for you to shop around at all the banks here.  Check out their websites, they will normally post their interest rates on-line.  Try:\n\nChase\nBank of Kenosha\nJohnson Bank\nSouthport Bank \nNorth Shore Bank\nEducators Credit Union\nSouthern Lakes Credit Union\nAMCCU (American Motors Community Credit Union)\nBank of Elmwood\n(I would advise you to stay away from TCF, that is just from what I have heard from others)\n\n... that is all I can think of right now.\n\nYou can also check bankrate.com for a listing of national rates, so you can tell what the norm is.
241923
Vanguard.com generally has the near highest rates on a consistent basis. They offer a lot of funds with no load and low cost. They are not the lowest commission structure however. If you trade a lot and don't keep big cash balances I would go elsewhere.\n\nFidelity, tradeking, schwab, etrade, ameritrade, scottrade
345644
One of the best sources for interest on  savings, credit cards, etc is http://www.bankrate.com\nIt depends what state you are in and what the balance on the account is.\n\nHSBC direct in New York shows 4.7% minimum balanace $1.00\nhttp://hsbcdirect.com
693280
In order to compute a precise answer, you need all of the following information:\n\nAmount of principle subject to interest (one penny)\nFrequency of Compounding\nInterest Rate\nand the formula for compound interest (more on this below)\n\nUnfortunately, the answer to your question at this point, would have to be: One penny after 30 days.\n\nHow did I get there?  Well I had to make some assumptions:\n\nFirst we derive the formula for compound interest:\n\nEnd of Period Balance = Beginning of Period Balance Principle + Interest\n\nInterest = Beginning of Period Balance (times) interest rate\n\nWith multiple compounds you have multiple calculations of interest and the interest is added to the balance each time so that the next calculation has interest computed on the new balance which includes the previous interest.\n\nWhether you are looking at multiple years or multiple compounds in a year, you initially have interest on the principle then you have interest on the principle and interest on the prior interest, which is the "compounding".\n\nIt's not very reasonable for me to assume the interest rate (which was not given in the question) is significantly higher than currently available interest rates in the marketplace.  The question suggests the scenario is saving money, not paying bills.  Current interest rates on savings are well below 5 percent per year (closer to one percent per year).  Ask your local bank what interest rate they'll pay you on a simple savings account.\n\nIf the interest rate were 12 percent per year, and you compounded monthly then you could express the interest rate per period as 0.12 / 12 = 0.01 or one percent per month.\n\nOne percent per month would be a sizeable amount on a sizeable purchase, but one percent on a penny is one one-hundredth of a penny - hardly noticiable and most likely lost in the calculations.\n\nIt gets worse when you compound daily in this case\n\nInt rate  = 0.12 / 365 = 0.00032876712328767123287671232876712\n\nThat's assuming 12 percent interest per year (too high to be a good assumption)...and the result of multipling that by a penny even once is too close to a penny to notice the difference.  Making the calculation a little easier, you can calculate the new balance after interest is paid by adding one to the interest rate resulting in the new balance (representing balance = 1 times amount subject to interest plus the interest)\n\n$0.01 times 1.00032876712328767123287671232876712\ntimes 1.00032876712328767123287671232876712\ntimes 1.00032876712328767123287671232876712\ntimes 1.00032876712328767123287671232876712\netc. for 30 multiplications would yield you\n\na balance of 1.0099101764966712808084001310017 pennies which is still to small to practically be anything but one penny.\n\nThe rule of 72 allows you to approximate how long it will take for an amount to double under compound interest.  divide 72 by the annual interest rate and the result is an approximation of the number of years.\n\n72% interest would double your money in one year\n12% interest would double your money in six years\n7.2% interest would double your money in ten years\n\nYou'd need to get approximately 72% x 12 interest rate (864% interest per year) to compound a penny into two pennies in a single month.\n\nI imagine that you'd like to re-ask with the missing details (interest rate) and set a higher starting value than an penny.  I've hunted down a calculator for your so you can do some what-iffing on your own.\n\n-EN-
57320
You're forgetting that interest is often tax-deductible. If you can take advantage of that, you aren't paying as much. And yes, some houses can double or triple in value in a relatively short amount of time. It all depends on where you buy.
1131771
There is UBS that is good but requires CAT.\nThere are lots of others ..private ones..but you cant call them good.
848938
Washington Mutual.  Online they offer a free checking account and a free savings account that pays 5% interest.  Their debit card earns rewards, though not as juicy as many credit cards offer.\n\nhttp://www.wamu.com
641632
i have the same problem... just don't max it out in a day... the trick is to pay it off each month... that way you don't get charged interest.
643153
continuous means it is constantly being compounded.\nThe "normal compounding" has to be specified.\nFor example, you would have to say it is compounded monthly, weekly, daily, etc.