Checking The Math On My Ally CD Interest

I blogged about my experience with closing an Ally CD account a while ago. But as I was writing that post, I found that I had a hard time reproducing the numbers on my statements.

Here are the facts:

  • 4/9/2013 – I deposited $7,000 into an Ally CD account
  • 12/31/2013 – Interest paid in 2013 is $55.73 per the 2013 1099-INT
  • 4/21/2013 – I closed my account. Per the April statement the interest paid in 2014 is $23.09, and the early withdrawal penalty is $12.57.
  • The annual percentage yield is 1.09%

Total interest paid is $55.73+$23.09 = $78.82Read more

The Capital One 360 Promotion Bonus – Friendly Tax Reminder

I added a blogroll to this website about a week ago. It lists several blogs that I often read. I find the blogroll to be a handy tool for myself because it let me use my own site as the main hub to open up these blogs on my browser.

As I was going through these blogs a couple days ago, I was a little surprised to find that three of these blogs were writing about the same topic, the Capital One 360 Financial Independence Day Promotion.

Capital One 360 Financial Independence Days Sale (Just 4 Days)
Capital One 360 Read more

Closing My Ally CD Account

If you Google the term “emergency fund,” you will find many articles on what an emergency fund is and why you should start one. I started one in the April of 2013; I opened a 2-year raise your rate CD account with Ally Bank. The opening balance was $7,000 and the beginning annual percentage yield was 1.09%. At that time, I really thought I would not need that sum of money in the next two years.

However, in the April of this year, an investment opportunity came up. This opportunity was one that I really could not pass up. I … Read more