.42% APY on for $10,000 is how much interest
To calculate the interest on $10,000 with an APY (Annual Percentage Yield) of 0.42%, you can use the following formula:
Interest = Principal x APY
Interest = $10,000 x 0.42%
Interest = $10,000 x 0.0042
Interest = $42
Therefore, the interest on $10,000 with a 0.42% APY would be $42.
To calculate the interest earned on $10,000 with an annual percentage yield (APY) of 0.42%, you can follow these steps:
Step 1: Convert the APY to a decimal by dividing it by 100:
0.42% / 100 = 0.0042
Step 2: Multiply the APY (in decimal form) by the initial amount, $10,000:
0.0042 * $10,000 = $42
Therefore, the interest earned on $10,000 with a 0.42% APY would be $42.
To calculate the interest earned on a $10,000 deposit with an annual percentage yield (APY) of 0.42%, you can follow these steps:
1. Convert the APY to a decimal by dividing it by 100. In this case, 0.42% becomes 0.0042.
2. Multiply the decimal APY by the principal amount (the deposit amount). In this case, 0.0042 × $10,000 = $42.
Therefore, with a 0.42% APY, the interest earned on a $10,000 deposit would be $42.