I am a 7th grader doing a project in Math, and we%26#039;re doing a comparison of savings accounts from four banks of our choice. For Wachovia, what are the answers to the questions?(By the way, I couldn%26#039;t find all the info i needed on the site).
Name of Account-
Intereset Rate-
Minimum Balance to open-
Monthly Fee-
Perks-
Interest Rate Change based on the amount of money in account?-
Are monthly fees avoidable by having a certain amount, and what is this ammount?-
Formula used to find interest-
Interest earned for account that contains $500 for three years-
Ending balance for account without putting any other money in it for three years-
Banking Project Help? (Wachovia users please)?bad credit loan
Name of account: Premium Savings
Interest (tiered based on balance):
$0-$9999 = 0.20% Interest; 0.20% APY
$10k-$24999 = 0.50% Interest; 0.50% APY
$25000+ = 0.60% Interest; 0.60% APY
Minimum to open:
$100
Monthly Fee (varies on state, but primarily):
$5/month if below $300; otherwise there is none IF you%26#039;re a student (tied to a Free Student Checking) OR you are under 18 and this is a FIDUCIARY Savings.
Perks (almost the same as all other banks):
Can link to checking for Overdraft Protection
FDIC Insured
Free Online Banking
Interest Rate Change:
(see above)
Monthly fee avoidance:
(see above)
Formula to Find Interest Rate:
It%26#039;s compounded monthly (BB%26amp;T has a wonderful calculator on their website)
Interest earned for account that contains $500 for three years:
(try the calculator reference above)
Ending balance for account without putting any other money in it for three years:
(try the calculator referenced above)
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