Guest
asked 11 months ago
1 Answer - Sort by: Date | Rating
Simple interest is the most common type of interest. You pay interest on loans and your bank might be paying you interest on your deposit amount. You can maximize earnings by knowing more about these interests and their impacts.
Simple interest is only the amount of money that is paid on a loan. For instance you deposited 10,000 in a bank which pays 24% interest per year, in other words 2% interest per month.
For yearly calculation, you just need to multiply 10,000 with 24% and 2,400 is the amount of interest that you get over a year.
Simple interest is only the amount of money that is paid on a loan. For instance you deposited 10,000 in a bank which pays 24% interest per year, in other words 2% interest per month.
For yearly calculation, you just need to multiply 10,000 with 24% and 2,400 is the amount of interest that you get over a year.
0
0
Please tell me where you found this bank account that pays 24% interest ???!!!
Welshchris! That was only an example..
Come on - I'm just kidding!
- What Is The Interest Charge For A Past Due Amount Of $5787.50 Over 30 Days, If The Per Annum Per Cent Is 10%?
- Why Is There Such A High Divorce Rate Among Younger People Today?
- Federal Reserve Does Not Utilize Reserve Requirements Or The Discount Rate As Part Of Its Strategy?
- I Have £90000 To Invest. What Would Be My Monthly Income From Interest?
- What Is An Interesting Fact For Instructor For A Spelling Report?
- What Is A Interesting Fact About Education?
- What Language Is In A Note To Show Simple Daily Interest?
- Foreign Currency Is A Critical Area Of Exposure For A Multi-national Firm. How Do The Concepts Of Purchasing Power Parity And Interest Rate Parity Enter Into This Undertaking? How Does The Market Correct For Changes In The Internal Components Of Its
- When The Fed Decreases The Discount Rate, Interest Rates Fall, What Does This Do To The Economy?
- What Is An Interesting Fact On A Paramecium Cell?
- What Would The EAR Be If The APR Is 21.5% Compounded Quarterly?
- My APR Is 2.0654, How Do I Figure The Daily Interest Rate? Would I Just Divide 2.0654 By 365?
- Melinda Lister Invested $9,000 In Stocks And Bonds.the Stocks Paid 5% And The Bonds 8% , Giving An Annual Income Of $525 How Much Did He Invest In Bonds?
- U Deposit 100 Each Month Into A Account Gives A Annual Interest Rate Of 2%/a Compound Monthly.u Do This From 2001-2003 And Then Stop Making Regular Deposits. The Money Stays In Ur Account And Interest Is Earned At The Same Rate. How Much Money Is In?
- Does Regulation DD Require Any Particular Frequency Of Compounding Or Or Crediting Of Interest?
- What Is The Interesting Fact About Recruitment Sector?
- If In The Market For Money The Quantity Of Money Demanded Exceeds The Money Supply, The Interest Rate Will?
- An Actor Sells The Right To His Life Story And Invests 3% And $30,000 More Than Twice As Much At 4%. The Total Annual Interest From The Investments Is $5.600. How Much Is Invested At Each Rate?
- Compound Interest - How Much Interest Would I Earn Each Year? If I Deposit $11,000 Paying An Annual Rate Of 7.2%, Compounded Daily
- What Is The Dependent Variable For-does Light Effect The Rate At Which Food Spoils-does Light Effect The Rate At Which Food Spoils-?
- 1600 Principal 1.5 Years 168.00 Interest What Would Be The Interest Rate?
- How Much Is 15 Percent Interest For 20,000,00 For 1 Year?
- The Effective Cost Of Debt Is Less Than The Actual Interest Payment Made By The Firm. Do You Agree With This Statements? If Yes/no Substantiate.
- The Formula To Find The Rate Is Interest Divided By (principal Times Time?
- You Have 4,000 In Savings For 15 Months,you Generate 250.00 Of Interest,at What Interest Rate Did The Bank Give You?
- What Is The Effective Rate Of Interest For 11% Annual Rate Compounded Yearly?
- What Is The Effective Rate Of Interest For 11% Annual Rate Compounded Yearly?
- What Is The Effective Rate Of Interest For 7.5% Annual Rate Compounded Yearly?
- What's The Yearly Interest Paid On A Daily Compound Interest Of 6.5% On 10,000 Dollars?
- What Is Simple Interest?
- What Is Simple Interest Rate?
- What Is Simple Interest Calculator?
- What Is The Formula For Simple Interest?
- How Do I Find Simple Interest?
Featured Question
- Business & Finance
- Personal Finance
- 401k
- Bank Accounts
- Bank Charges
- Bankruptcy
- Benefits
- Child Trust Fund
- Credit Cards
- Credit Unions
- Death Duty
- Debt
- Estate Planning
- Family Benefit
- Fraud
- IVA
- Income Tax
- Inheritance Tax
- Interest Rates
- Loans
- Money Software
- Mortgages
- Payday Loans
- Philanthropy
- Pocket Money
- Remortgages
- Stamp Duty
- Stimulus Checks
- Tax
- Tax Credit
- Transfer Money
New Comment - Comments are editable for 5 min.