How do I calculate monthly interest on a regular savings account?

How do you calculate a savings account with 3% interest, accrued monthly?

  • Answer:

    Every month interest is paid (3% annually is 0.25% of the account balance added every month). The next month more interest is paid

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Every month interest is paid (3% annually is 0.25% of the account balance added every month). The next month more interest is paid

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