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#11
12-20-2005, 12:07 AM
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Re: ING Direct
How often is your investment compounded? On emigrant's site it says 'compounded daily- credited monthly'
Does that mean your investment * (1.4^12 - 1) is what you would make in a year? 
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#12
12-20-2005, 01:58 AM
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Re: ING Direct
[ QUOTE ]
How often is your investment compounded? On emigrant's site it says 'compounded daily- credited monthly' Does that mean your investment * (1.4^12 - 1) is what you would make in a year? [/ QUOTE ] The numbers quoted are APY's. So don't even worry about this, you are earning 4.0% after compounding is calculated.
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#13
12-20-2005, 01:59 AM
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Re: ING Direct
Actually you can get it off their website.
I think it's on the account view page but there is a link to the Direct Deposit Form which gives you all the numbers you need to link it up to IGM...
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#14
12-20-2005, 03:08 AM
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Re: ING Direct
[ QUOTE ]
[ QUOTE ] How often is your investment compounded? On emigrant's site it says 'compounded daily- credited monthly' Does that mean your investment * (1.4^12 - 1) is what you would make in a year? [/ QUOTE ] The numbers quoted are APY's. So don't even worry about this, you are earning 4.0% after compounding is calculated. [/ QUOTE ] Could you give an example? I don't really understand this crap and I want to know if it's even worth the effort (if I even had money [img]/images/graemlins/smile.gif[/img]) Is there a formula so I can plug in like $x and see how much I would make in a year off the interest?
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#15
12-20-2005, 03:11 AM
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Re: ING Direct
[ QUOTE ]
[ QUOTE ] [ QUOTE ] How often is your investment compounded? On emigrant's site it says 'compounded daily- credited monthly' Does that mean your investment * (1.4^12 - 1) is what you would make in a year? [/ QUOTE ] The numbers quoted are APY's. So don't even worry about this, you are earning 4.0% after compounding is calculated. [/ QUOTE ] Could you give an example? I don't really understand this crap and I want to know if it's even worth the effort (if I even had money [img]/images/graemlins/smile.gif[/img]) Is there a formula so I can plug in like $x and see how much I would make in a year off the interest? [/ QUOTE ] $x * .04 will show you what you would make in a year off the interest. Yes, it is that easy.
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#16
12-20-2005, 03:12 AM
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Re: ING Direct
[ QUOTE ]
[ QUOTE ] [ QUOTE ] [ QUOTE ] How often is your investment compounded? On emigrant's site it says 'compounded daily- credited monthly' Does that mean your investment * (1.4^12 - 1) is what you would make in a year? [/ QUOTE ] The numbers quoted are APY's. So don't even worry about this, you are earning 4.0% after compounding is calculated. [/ QUOTE ] Could you give an example? I don't really understand this crap and I want to know if it's even worth the effort (if I even had money [img]/images/graemlins/smile.gif[/img]) Is there a formula so I can plug in like $x and see how much I would make in a year off the interest? [/ QUOTE ] $x * 1.04 should do the trick for you. [/ QUOTE ] So, it's not actually compounded daily?
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#17
12-20-2005, 03:17 AM
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Re: ING Direct
[ QUOTE ]
[ QUOTE ] [ QUOTE ] [ QUOTE ] [ QUOTE ] How often is your investment compounded? On emigrant's site it says 'compounded daily- credited monthly' Does that mean your investment * (1.4^12 - 1) is what you would make in a year? [/ QUOTE ] The numbers quoted are APY's. So don't even worry about this, you are earning 4.0% after compounding is calculated. [/ QUOTE ] Could you give an example? I don't really understand this crap and I want to know if it's even worth the effort (if I even had money [img]/images/graemlins/smile.gif[/img]) Is there a formula so I can plug in like $x and see how much I would make in a year off the interest? [/ QUOTE ] $x * 1.04 should do the trick for you. [/ QUOTE ] So, it's not actually compounded daily? [/ QUOTE ] Yes, it is compounded daily such that after one year you'll have earned 4%. APY stands for annual percentage yield. Nice job catching me editing. [img]/images/graemlins/smile.gif[/img]
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#18
12-20-2005, 04:40 AM
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Re: ING Direct
[ QUOTE ]
[ QUOTE ] [ QUOTE ] [ QUOTE ] [ QUOTE ] [ QUOTE ] How often is your investment compounded? On emigrant's site it says 'compounded daily- credited monthly' Does that mean your investment * (1.4^12 - 1) is what you would make in a year? [/ QUOTE ] The numbers quoted are APY's. So don't even worry about this, you are earning 4.0% after compounding is calculated. [/ QUOTE ] Could you give an example? I don't really understand this crap and I want to know if it's even worth the effort (if I even had money [img]/images/graemlins/smile.gif[/img]) Is there a formula so I can plug in like $x and see how much I would make in a year off the interest? [/ QUOTE ] $x * 1.04 should do the trick for you. [/ QUOTE ] So, it's not actually compounded daily? [/ QUOTE ] Yes, it is compounded daily such that after one year you'll have earned 4%. APY stands for annual percentage yield. Nice job catching me editing. [img]/images/graemlins/smile.gif[/img] [/ QUOTE ] Thanks. Just ruined my dreams of putting in 100k and living off the interest... [img]/images/graemlins/frown.gif[/img] 4% compounded monthly would be sooooo nice
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#19
12-20-2005, 11:47 AM
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Re: ING Direct
FYI: "Compounded Monthly" does not mean that you get that % each month. You only get 1/12 the quoted rate each month.
They give you a month's interest at a time, and then the next month you get interest on your initial amount plus the interest that's accumulated from previous months. This contrasts with something like a 1 year CD, in which they give you the interest in one lump sum and you don't earn interest off that interest until the next year.
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#20
12-20-2005, 02:18 PM
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Re: ING Direct
[ QUOTE ]
[ QUOTE ] Deathbear, I just opened an ING Direct account and yes, they required me to link this account to a B&M bank, but when I tried to link my Neteller account their website and their phone support tell me that any additional account has to be linked using a void $0 check from that additional account. Neteller doesn't do checks do they? Did something change recently at ING Direct. I don't see a way of connecting a Neteller account to ING Direct. [/ QUOTE ] This is what has prevented me from doing this as well. [/ QUOTE ] You have to link the accounts from NETELLER's side...then when you want to transfer money in or out, you initiate the transaction from Netelleras well. Acme
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