business questions - answers to business questions
*Business questions>>>Investing Questions

If I put $100,000 in a savings account, can I get $2,000 every month?

Question:
I saw that savings account or paypal usually say "Currently Earning: 5.03%* " so that means that if I put $100,000 I can get $5,000 every month? Please help. I want to know how much I need to have in my savings account in order to get around $2,000 every month. thanks

Answer:
NO!

First, it is 5000 per year not per month and that is if you do not touch it and let it compound
Related Questions
  • If I put $100,000 in a savings account, can I get $2,000 every month?
  • if i want to sell some shares that ive brough from the stockmarket how can i be sure they will sell ?
  • Why is it that banks don't loan small amounts of money?
  • Certificate of deposit dividend rates -- paid how often?
  • if you won the lottery?
  • Cash Flow Streams Same Amounts but different NPV?
  • Which good books are available on "Technical Analysis" of shares?stocks?
  • who is more efficient, to borrow money (debt) or to sell bonds (stocks)?
  • What is the best CD rate.?
  • Anyone know an ETF that move with the price of Natural Gas?
    • Categories
    Taxes Small Business Renting & Real Estate Personal Finance Other - Business & Finance Investing Insurance Credit Corporations Careers & Employment Advertising & Marketing
       

    business questions and business answers
    Loan,Banking and CreditFor personal non-commercial use only. All rights reserved.