- Thread starter
- #1

- Thread starter lave48
- Start date

- Thread starter
- #1

- Jan 30, 2018

- 462

...or calculate the average balance for the year;I have an account that pays 2.1% per annum. The amount in the account has varied over the year due to withdrawals. My question is what is the formula for working out the interest due to me over the year? Many thanks in advance Lave48

multiply result by .021

Example: if av.bal. = 1200, then 1200*.021 = 25.20

Enough for a 12pack of beer!!