GalacticCactus Forum

Forums => English & Linguistics => Topic started by: Brinestone on March 10, 2006, 08:52:55 AM

Title: Do you know what this means?
Post by: Brinestone on March 10, 2006, 08:52:55 AM

I'm totally stupid when it comes to all things money, so I need help.

Quote

This panel has two primary functions. The first is to forecast an interest amount and an APY. The second is to forecast interest and a rate given an APY.

Here's my question: Is the last sentence grammatically complete? Does it make sense? How do you give an APY a rate? And what's the difference between forecasting an interest amount (the first function) and forecasting interest (the second function)?

Title: Do you know what this means?
Post by: Jonathon on March 10, 2006, 11:54:56 AM

I really can't help you.

Title: Do you know what this means?
Post by: rivka on March 10, 2006, 01:18:49 PM

APY = annual percent yield
That is, the yearly return on the investment.

I believe it is referring to a monthly interest amount, but that is a bit ambiguous.

If interest rates are being forecast, they must be based on something. Let's assume it's the prime rate (http://www.forecasts.org/prime.htm), as that is what is most commonly used. (Unless they don't actually mean forecast, but that's a separate problem.)

I would add a "the" before "interest" in the second sentence. Assuming I am reading it correctly, it is saying that if you give it a required APY, it will tell you what the monthly interest is (I don't believe there IS any difference between "interest" and "interest amount" in the way they're using it) and what rate of interest would give you that return.

But Glynn is the person to ask this kind of stuff. I'm just making a (somewhat) educated guess. ;)