Let's say I have 100 and it's in an account that is charged 2% per year.
This fee deduction is taken out every month.
Each month, would the fee be:
1.) CurrentAccountValue * (.02/12)
2.) CurrentAccountValue * ((1.02^(1/12))-1)
3.) Something else?
Let's say I have 100 and it's in an account that is charged 2% per year.
This fee deduction is taken out every month.
Each month, would the fee be:
1.) CurrentAccountValue * (.02/12)
2.) CurrentAccountValue * ((1.02^(1/12))-1)
3.) Something else?