Posted by Mark Smith on February 24, 1999 at 14:05:08:
In Reply to: Security Deposit Interest posted by C. Blank on February 20, 1999 at 23:52:43:
And don't forget that the landlord is allowed to keep 1% of the principal each year as an administrative fee. Therefore, if the bank's annual interest rate was 2% (of the principal) and the landlord keeps 1% of the principal each year, you will get to keep only half of the already-low interest paid by the bank.
: I am trying to find out how much interest the Banks in NY State were paying during the years of 1989-1993.
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