Another 16-hour workday finished, we better get really rich when this is over.

I expect to have some free time tomorrow afternoon, so I can finish some of my essays 🙂 Don’t want to post anything half-baked especially since a lot of thought went into it already.

Today was a very boring stock market day. I wasn’t excited about either that or the money in general: too exhausted.

Our credit union advertises 4.01% APR on High Savings Account, but there’s something wrong with their math. Last month the interest amount was off by a few dollars from what I expected. I called them and checked the rate – yes, 4.01%. I could be calculating it wrong, here’s what I think we should get each month: [Principal] x 0.0401 / 12 months.

Here’s my dumb way of checking if they’re cheating (I’m sure they are not, but hey… I want to see the numbers for myself).
On April 1st I made sure that we have exactly $10,000 in that account. Should make it easier to calculate the interest.

…Something just dawned on my! They probably use [Principal] x 1.0401 / 365 days formula. And since February is a really short month, then Yes, the interest amount would be slightly lower.

$10,000 x 0.0401 / 12 = $33.42 per month

$10,000 x 0.0401 / 365 = $1.098 per day ($30.74 in February 28 days)

I thought about this several times on a clear, well-rested head and couldn’t figure it out. Well, I impressed myself and I’m off to bed.

Happy Wednesday, everyone!