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What does this mean? (Bank Statements)

Okay, so I need to plan out for the next 3+ years how much money I will have in my savings account. Will someone please explain what this stuff means. I’m so confused! This is the information they gave me. Annual Percentage- 0.350% Divided Rate- 0.350% Dividend- Daily Dividend compounded- Quarterly Dividend Credited- Quarterly. I put 100 dollars in to start with on February 26th. On March 26th, I put in another 100 dollars to add up to 200$ On March 31st, I got a noticed that my interest has been payed. My current balance is 200.04 dollars. So does that mean I only get 4 cents a month? every 3 months? what does that mean!!!? Thank you

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Answer #1

Take the amount you have in your savings and multiply it by .35 and then take that answer and add it to your original savings amount. Thats how much you will make in interest per year. To get three years, Take the amount you have in your savings and multiply it by .35 : this is the amount you will make in percentage rate per year…multiply it by 3. then add it to your original savings amount…thats the amount you will have in three years.

Answer #2

a bank statement tells you how much money you have available for yourself at the moment. it tells you the date of your last transaction too I think but it deffetnitly tells you how much money you have at the moment.

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