My Math Forum > Math average percent multiplier?

 Math General Math Forum - For general math related discussion and news

 May 9th, 2016, 11:36 AM #1 Newbie   Joined: Feb 2012 From: Central Florida Posts: 10 Thanks: 0 average percent multiplier? If I have 3 fixed rate Annuity or Bank CD accts. The 1st acct a balance of 100,000 earns an annual percent yield of (APY) 3.25% (0.0325). The 2nd acct a balance of 100,000 earns 3.0% (APY). The 3rd acct a balance of 300,000 earns 3.3% (APY). They all have a 10yr maturity date. How would I determine what percent I could multiply the whole balance total of all 3 accts (500,000) to find my yearly earnings (?) without having to do all 3 separate and add them up.
 May 9th, 2016, 11:48 AM #2 Global Moderator   Joined: Dec 2006 Posts: 20,746 Thanks: 2133 The method you've mentioned is essentially the only way.
 May 20th, 2016, 02:00 PM #3 Math Team   Joined: Jan 2015 From: Alabama Posts: 3,264 Thanks: 902 You could find an "average" interest rate. Since the 3.3% is for three times as much money as the others, "weight" the average: (3.25+ 3+ 3(3.3))/(1+ 1+ 3)=16.15/5 = 3.23. Then Find 3.23% of $500,000: 0.0323(500,000)=$16150. However, that is exactly the same work as finding 3.25% of $100,000=$3250, 3% of $100,00=$3000, 3.3% of 300,000= $9900.$3250+ $3000+$9900= \$16150.

 Tags average, multiplier, percent

 Thread Tools Display Modes Linear Mode

 Similar Threads Thread Thread Starter Forum Replies Last Post Gang Elementary Math 10 November 5th, 2015 10:46 AM Caesar95 Calculus 2 May 2nd, 2015 08:04 AM Tartaglia Economics 0 September 29th, 2013 01:22 PM trey01 Applied Math 2 March 25th, 2012 07:14 AM roonaldo17 Calculus 0 November 16th, 2008 11:27 AM

 Contact - Home - Forums - Cryptocurrency Forum - Top