Buying a house financing

[Notengo]

let me see if I'm understanding this correctly so if I put a million pesos in a bank after 3 months they're going to give me $100,000 pesos so my total investment at the end would be 1 million 100,000 pesos. is that tax free?

I figured the f@cker is the rendimiento is a yearly percentage. So 10% for 360 days is 5% for 180 days, 2,5% for 90 days.

8 times 45 days at 10% would double the money in a year, sounds too good to be true.

 

[MariaRubia]

let me see if I'm understanding this correctly so if I put a million pesos in a bank after 3 months they're going to give me $100,000 pesos so my total investment at the end would be 1 million 100,000 pesos. is that tax free?

No. The annual rate is 10% and you need to commit to 3 months. So if you put 1M pesos in, they give you 10% / 12 per month which is RD$ 8,333 per month. They take 10% tax off this, so the net interest is RD$ 7,499 that's what you get in your hand. Over a year, you'd get just under RD$ 90,000 per million invested.

 

[RDKNIGHT]

No. The annual rate is 10% and you need to commit to 3 months. So if you put 1M pesos in, they give you 10% / 12 per month which is RD$ 8,333 per month. They take 10% tax off this, so the net interest is RD$ 7,499 that's what you get in your hand. Over a year, you'd get just under RD$ 90,000 per million invested.

Thank you explain perfect. thats still pretty good

 

[RDKNIGHT]

I figured the f@cker is the rendimiento is a yearly percentage. So 10% for 360 days is 5% for 180 days, 2,5% for 90 days.

8 times 45 days at 10% would double the money in a year, sounds too good to be true.

still not bad with no risk