What is the Best way to Invest $1000 Danielle Keegan, Beca Oliva, Jose Montelongo.

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Presentation transcript:

What is the Best way to Invest $1000 Danielle Keegan, Beca Oliva, Jose Montelongo

Whats a bank account? DEFINITIONS Compound Interests: Earnings additional interests on interests. It will allow your money to earn even more money over the years. Annual Percentage Yield: The resultant percentage number assumes that funds will remain in the investment vehicle for a full 365 days. Savings account: Its where you are able to leave your money and have it saved in the bank and the only person that can take it out is the one with the name in the bank.

Continue from definitions Money Market Account: is the deposit account offered by the bank, which usually has a high rate in interests. Individual Retirement Account: a retirement plan that allows you to contribute a limited yearly total sum toward your retirement such as taxes on the interest earned in the account are defer rented. Certificate of Deposit: Is the debt instrument that is issued by the bank and usually means that it pays the interests.

Frost National bank Interest rates and when there Compounded Savings Account Interest rate-.05% Compounded- quarterly -Individual RA Interest Rate-.30% Compounded-Annually -Money Market Account Interest Rate-.05 Compounded-Monthly -Certificate Deposit Interest Rate-.30% Compounded- Monthly

Security service Federal credit union Interest rates and when there Compounded Savings Account Interest rate-0.25% Compounded- Annually -Individual RA Interest Rate-0.20% Compounded-monthly -Money Market Account Interest Rate-0.60% Compounded-Annualy -Certificate Deposit Interest Rate-0.20% Compounded-monthly

Bank of America Interest rates and when there Compounded -Savings Account Interest rate Compounded- Annually -Individual RA Interest Rate Compounded-Annually -Money Market Account Interest Rate Compounded-Annual -Certificate Deposit Interest Rate Compounded-Annual

So who has the best ? * Savings account- Security Service Federal Credit Union *Individual RA - Frost National Bank *Money Market Account- Security Service Federal Credit Union *Certificate Deposit- Frost National Bank

Best savings account Numbers ( Security Service federal credit union) 1$ $ $ $ $ YearAmount

Best Money Market Account (Security service) 1$ $ $ $ $ Year Amount

Best Individual retirement Account (Frost Bank) Year Accou nt 1$ $ $ $ $

Certificate Of Deposit (Frost Bank) Year Account 1$ $ $ $ $

In what year will the amount be 1,500 ? * Savings account- 163 years at *Individual RA - 82 years at *Money Market Account- 68 years at *Certificate Deposit- 136 years at

Citations Security service federal credit union "Security Service Federal Credit Union." ssfuc.org. Security Service Federal Credit Union, n.d. Web. 3 Apr Frost bank "Frost." Bank. N.p., n.d. Web. 4 May Bank of America "Bank of america." Bank. N.p., n.d. Web. 4 May

Citations for Definitions - "investopedia." definitions. N.p., n.d. Web. 4 May