Campound interest
The "principal" is the sum of money invested or borrowed, before interest or other revenue is added, or the remainder of that sum after payments have been made. In math, this applies to finance.
$972.00From Superscot85: Above answer is for Simple Interest. You specifically stated "compound" so after 2 years balance will be 900 x (1.04)2 ie 973.44
its the way of showing interest in a job which has been advertised and you are willing to get
Simple interest is interest that is compounded solely on what was originally owed. For example, say you owe $500 at 10% annual interest. This means that at the end of the year, you owe $50 dollars in interest (10% of 500) on top of the $500 you already owe. If you were to not pay it again, at the end of the second year you would owe $550 plus another $50 making the total amount you owe to be $600. No matter how long you wait to pay off the debt it will only increase by $50 every year, since that is 10% of the original amount owed. Compound interest in interest that is compounded on what what was originally owed PLUS any interest left over. Using the example above if the interest on the original $500 had been compound interest by the second year one would have owed $550 plus an additional $55 dollars in interest (10% of 550). This is the danger of compound interest as it always increases as long as the debt continues to be unpaid.
The total grows as time passes. That's the whole idea of interest and compounding. In order to calculate what the total is now, we need to know how long it has been in the account accumulating interest, and you haven't told us that.
An agent who acts contrary to the duties of an agent can be liable to the Principal or the Principal's successors in interest for the amount required to restore the value of the Principal's property to what it would have been had the violation not occurred.
agency theory is to help devise techniques for describing the conflict inherent in the principal-agent relationship and controlling the situations so that the agent, acting from self-interest, does as little harm as possible to the principal's interest
The "principal" is the sum of money invested or borrowed, before interest or other revenue is added, or the remainder of that sum after payments have been made. In math, this applies to finance.
Interest charged is normally an expense - in that it is a deduction from an account. Deferring payment of the interest, means the money that would have been paid is still in the account - making it an asset.
yes
It depends on the compounding frequency of the rate of interest earned on your bank account. Some banks compound the interest yearly and some do it quarterly. If the interest is compounded every year you will have 973.44 at the end of 2 years.
Interest rates have been low for the past several years, so a great way to gain a higher interest rate on your savings is to invest in a money market account with check writing privileges.
You should refer to the judgement against you to determine what the Judge determined regarding interest. In terms of your garnishment, this is the only document that matters. If you feel you have been garnished too much you should contact an attorney.
in fact they do
The difference in the money amount is the interest you are paying on the loan. The formula is Interest=principal (amount of the loan)xrate of interest x time(lenght of time you pay the loan off. I= PxRxT Interest equals the principal x rate of interest x Tim (payoff time). Hope this helps.
The collection company has probably charged interest sincethe day they received the account. The interest rate can differ from state to state on a charged off account. So yes, they can but that amount is not just for two months. You need to ask for a total breakdown on the account and see if the interest charged is correct.
The original creditor does not remove your information. What is should say in the notes section is that the account has been transfered or sold to a third party collection agency. This information will remain on your account until the 7 year clock expires.