7.5 x 2.5 ie 18.75
Two and a half percent of 750 ie 2.5 x 7.5 which is 18.75
21.28
21.28
The answer will depend on the rate on interest!
20.05
Two and a half percent of 750 ie 2.5 x 7.5 which is 18.75
When you put money in a savings account, you can draw it out at any time. In a certificate of deposit, you agree to leave it in the bank for a certain period of time. They pay slightly higher interest because they know that money will be there for 3 months, 6 months, 1 year, etc. If you draw it out early, they reduce your interest.
yeah, you spelled monts instead of months, not sure i want to further this conversation your company.
Amount to Deposit (P) = ? Time (N) = 15 months or 1.25 years Rate of Interest (R) = 5 Interest Earned = 200 Formula for Interest = P * N * R / 100 Rearranging the formula we get: P = Interest * 100 / N * R = (200 * 100) / 1.25 * 5 = 20000 / 6.25 = 3200 If they want to earn 200 interest they must deposit 3200 as the amount for the certificate of deposit.
21.28
21.28
(5.1 x 4.25)/4 = 5.42
70 x 8 x 3/4 ie 420
No. No bank provides such unrealistic interest on our deposits.
Yes. Fixed Deposit and Term Deposit both refer to the same thing. A deposit account is one in which you keep a fixed sum of money for a specific duration (Usually atleast a few months) based on an agreement with the bank. The bank does not expect you to withdraw funds regularly from this account and hence gives you a better interest rate.
£160.00
Recurring Deposit is type of account where the customer deposits fixed amounts every month for a predetermined duration (6 months, 1 year etc). The money cannot be withdrawn until maturity and the bank would pay a slightly higher rate of interest due to the longer duration of the deposit. In case of savings account, there is no predetermined duration or amount and the money can be withdrawn anytime you want so banks pay you low interest on the money you hold in the account.