Lump-sum deposit and withdrawal

I am working in Shanghai and now using Money 2005 Premium
for my finance management. The bank here offers "Lump-Sum
deposit and withdrawal" which has a higher interest rate
than the average "deposit and withdrawal". There are some
preset durations for "Lump-Sum deposit and withdrawal"
you can choose from, like 3 months, 6 months, 9 months...
The longer the duration, the higher the interest rate. I
put 10000 as "Lump-Sum deposit and withdrawal" with the
duration of 3 months and set auto-renew another 3 months
for it when due, which means after 3 months the bank will
have another 3 months for it with simple interest. This
process will keep going until the day you get all the
money out. Though the interest rate for it may change on
a monthly basis, it will remain unchanged within the
duration you choose. So when it is due,the bank is giving
another 3 months with the new interest of the first day
of the new duration time. It is simple interest, so when
I am to get the money out some day, the bank will
calculate the interest for the past every 3 months summed
up as the total interest.

My question is how Money 2005 premium can aid me in this
process. All I need to do is first set it up with the
initial startup amount and interest rate. Then every 3
months Money will remind me to enter the interest for the
next 3 months. When I am about to get all the money out,
Money will calculate all the interest together with the
principal based on simple interest.

Glyn
Sun Sep 19 03:58:02 CDT 2004

You could put the interest rate in the account details, but that will only
show you figures in the cash flow and not automatically add interest based
on the rate to the account. As for reminders, tools->alerts center, select
customize your expert assistant alerts and then add an 'important date' with
a reminder to yourself.

--
Glyn Simpson, Microsoft MVP - Money
http://money.mvps.org

Check http://support.microsoft.com/default.aspx?scid=fh;EN-GB;mny
for UK tips and fixes for MS Money. To send Microsoft your wishes or
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"Felix" <felixmail@vip.citiz.net> wrote in message
news:3c5601c49df9$4dde0530$a601280a@phx.gbl...
>I am working in Shanghai and now using Money 2005 Premium
> for my finance management. The bank here offers "Lump-Sum
> deposit and withdrawal" which has a higher interest rate
> than the average "deposit and withdrawal". There are some
> preset durations for "Lump-Sum deposit and withdrawal"
> you can choose from, like 3 months, 6 months, 9 months...
> The longer the duration, the higher the interest rate. I
> put 10000 as "Lump-Sum deposit and withdrawal" with the
> duration of 3 months and set auto-renew another 3 months
> for it when due, which means after 3 months the bank will
> have another 3 months for it with simple interest. This
> process will keep going until the day you get all the
> money out. Though the interest rate for it may change on
> a monthly basis, it will remain unchanged within the
> duration you choose. So when it is due,the bank is giving
> another 3 months with the new interest of the first day
> of the new duration time. It is simple interest, so when
> I am to get the money out some day, the bank will
> calculate the interest for the past every 3 months summed
> up as the total interest.
>
> My question is how Money 2005 premium can aid me in this
> process. All I need to do is first set it up with the
> initial startup amount and interest rate. Then every 3
> months Money will remind me to enter the interest for the
> next 3 months. When I am about to get all the money out,
> Money will calculate all the interest together with the
> principal based on simple interest.