0
No.
Wiki User
∙ 10y ago
Add your answer:
Earn +20 pts
What is the calculation for a simple compound interest rate?
There is simple interest and there is compound interest but this question is the first that I have heard of a simple compound interest.
WHAT does the carrot in the formula for compound interest means?
There is no carrot in the compound interest formula!
How do you solve compound interest formula for n?
It depends on which compound interest formula you mean. Refer to the Wikipedia Article on "Compound Interest" for the correct terminology.
What is earning interest on interest called?
Compound interest
Which is bigger compounded interest quarterly or compound interest monthly?
With the same rate of interest, monthly compounding is more than 3 times as large.The ratio of the logarithms of capital+interest is 3.
What are the major differences between compound interest loan and simple interest loan?
With compound interest, the interest due for any period attracts interest for all subsequent periods. As a result, compound interest, for the same rate, is greater.With compound interest, the interest due for any period attracts interest for all subsequent periods. As a result, compound interest, for the same rate, is greater.With compound interest, the interest due for any period attracts interest for all subsequent periods. As a result, compound interest, for the same rate, is greater.With compound interest, the interest due for any period attracts interest for all subsequent periods. As a result, compound interest, for the same rate, is greater.
Does the amount of interest earned each year increase decrease or stay the same in a simple interest account What about in a compound interest account?
Simple interest: stays the same. Compound interest: increases.
Does the amount of interest earned each year increase decrease or stay the same in a simple interest account. What about in a compound interest account?
Simple interest: stays the same. Compound interest: increases.
Is the annual interest rate the same as simple interest?
Usually no. Most institutions charge (and pay) compound interest, NOT simple interest.Usually no. Most institutions charge (and pay) compound interest, NOT simple interest.Usually no. Most institutions charge (and pay) compound interest, NOT simple interest.Usually no. Most institutions charge (and pay) compound interest, NOT simple interest.
Why does compound interest earn more than simple interest?
With compound interest, in the second and subsequent periods, you are earning interest on the interest earned in previous periods. If you withdraw the interest earned at the end of every period, the two schemes will earn the same amount.
Is Adjusted Gross Income the same as modified adjusted income?
Modified adjusted gross income INCLUDES tax free interest/dividends.
Which type of interest is calculated by adding the interest earned to the principal?
compound... yes it is compound interest.
What is the calculation for a simple compound interest rate?
There is simple interest and there is compound interest but this question is the first that I have heard of a simple compound interest.
Is the interest accrued on a student loan simple or compound interest?
its compound interest
Comparing Simple And Compound Interest Calculators?
An interest calculator is an electronic/web-based formula that calculates things like how much interest is payable on a principal debt, what monthly interest payments will be and what percentage of any monthly payment on a debt will be allocated towards interest payable.There are two types of interest calculators: Simple and compound. The difference between simple and compound interest is fairly easy to understand, and, while simple interest is calculated on the principal debt only, compound interest is calculated on the principal debt plus the interest already accrued as at the date of the interest calculation.Given the basic difference between the two types of interest, it stands to reason that there will be two different calculators: one for gross simple interest payable and one for gross compound interest payable. In order to calculate the total interest payable, the simple interest calculator will use factors like the amount of the principal debt - the total amount borrowed - the interest percentage offered by the bank or credit union and the number of years the account holder wants to pay the debt off in. The compound interest calculators, on the other hand, while also making use of factors like the number of years needed to pay off the debt and the interest rate, will, when calculating the gross compound interest payable, use, as a total debt, the principal debt plus interest accrued to date instead of just the principal debt. Another factor that must be taken into account when using a compound interest calculator is how many times a year the interest will be compounded, which can be translated as "how many times a year will the interest amount be added to the principal debt to create the gross principal debt on which further interest will be charged".Simple and compound interest calculators can be used to calculate the interest payable on all types of debts. They are, however, most often utilized by mortgage loan companies and auto finance companies when customers are contemplating purchasing a house or a car in order to determine what their total debt - principal plus interest - will be.
If you are borrowing which is best simple or compound interest?
If the rate of interest is the same, simple interest benefits the borrower. Compound interest charges (or pays) interest on the accrued interest as well as the principal amount. This is why the APR (annual percentage rate) may differ from the base interest rate on a loan, or on revolving credit balances.
What are some of the uses of compound interest in business?
compound interest increases interest more than simple interest
