How to Calculate Interest Earned During a Bank Statement Period

104 17

    Calculate Amount Earned

    • 1). Find your previous bank statement and locate the amount of money you have invested in your account as it is listed on the statement. For this example, assume the amount is $900.

    • 2). Find your new bank account statement and find the amount of money you currently have invested in your account. For this example, assume the amount is $925.

    • 3). Subtract the amount in Step 1 from the amount in Step 2. The answer is the amount of interest earned between the issuing of the previous bank statement and the current one. In this example, you would subtract $900 from $925, which results in $25.

    Calculate Percentage Earned

    • 1). Enter into your calculator the number you calculated in Step 3 of Section 1.

    • 2). Divide this amount by the amount of money you had in your previous bank statement. The result in this example would be .028 ($25 / $900).

    • 3). Multiply the answer from Step 2 by 100. The answer is the percent increase earned in interest during the bank statement period. In this example, your interest would be 2.8 percent, since 0.028 x 100 = 2.8.

Source...

Leave A Reply

Your email address will not be published.