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The formula for simple (ordinary) interest on a bank deposit is Deposit Amount x Rate x Time (# of days) on Deposit.
For 1 Year and 5 Years of recurring deposit account which bank offers best interest rate?
about $15
A Bank interest rate is the rate of interest that the bank would offer us for having our deposits with them. For example: If a bank offers a 8% interest on a one year Time deposit, then if you deposit $1000 with them, you will get $80 as interest at the end of one year.
about $16
about $15
about $15
interest rate of recurring deposit in iob
$73.21
>about $15 <
about $5
$48.76 ;)