# How do I calculate interest earned on a security deposit? \$5100 security deposit@ 0.04 for 4 years?

Asked by bethk301, New Jersey Mon Nov 4, 2013

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Rahzhak Mizh…, Other Pro, Bloomfield, NJ
Sun Dec 22, 2013
First year: 2.04
2nd : 4.08
3rd:6.02
4th: 8.16

ie:p/w=% or p/%=w or %xw=p...5100x.04%=2.04x4=8.16
Kenneth Verb…, Agent, PRINCETON, NJ
Mon Nov 4, 2013
your landlord must give you an accounting. I believe the rate is far less than 4%. I DONT THINK SAVINGS ACCOUNTS HAVE EARNED THAT MUCH IN ABOUT 20 YEARS
, ,
Mon Nov 4, 2013
Hard to do if the interest is compounding monthly. Tim's calculations look right.

I am not a realtor, but I believe you are entitled to know where the money is being kept and whether it is being integmingled with the landlord's other money.
Tim Moore, Agent, Kitty Hawk, NC
Mon Nov 4, 2013
What do you have that would be making 4% a year? Some escrow accounts make 0% a year like mine. I could leave it in there 20 years and it makes nothing.
Sorry, that is 0.04%
Flag Mon Nov 4, 2013
Tim Moore, Agent, Kitty Hawk, NC
Mon Nov 4, 2013
That is 4% per year for 4 years. Easiest way might be off a little but not much.

\$5100 + 4% = 5304
\$5304 + 4% = 5516
\$5516 +4% = 5737
and the fourth year
\$5737 +4% = 5966