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Harry has 4000 invested in two savings accounts One account earns 6 percent interest per year and the other pays 7 percent per year If his total interest for the year is 264 how muchs vested 7?
$2400
If you have lived with someone for 8 years but everything is in their name do you have any rights in Delaware?
Unless you have an agreement of ownership of items between the two of you, there are no particular rights, like you would have in marriage. If you have paid the mortgage and have checks on your personal account to prove it, then you have some vested interest in the house and could receive some money in return for that. Paying utilities or for food doesn't really count. (check with a lawyer) Unless you have an agreement of ownership of items between the two of you, there are no particular rights, like you would have in marriage. If you have paid the mortgage and have checks on your personal account to prove it, then you have some vested interest in the house and could receive some money in return for that. Paying utilities or for food doesn't really count. (check with a lawyer)
Would the statement 'Simple Interest is interest earned on interest' be True or False?
False. Interest upon interest is compounded interest
What is a simple interest in math?
Simple interest is interest that is calculated only on the amount of unpaid principal on a loan. Such interest is not added to the value of the loan but is tracked separately. Compound interest is interest that is calculated on the total of unpaid principal and accumulated interest on a loan. The difference is in simple interest there is no interest charged on accumulated interest while in compound interest there is interest charged on accumulated interest.
Is 20 percent interest per month legal in the Philippines?
With the suspension of the Usury Law and the removal of interest ceilings, the parties are generally free to stipulate the interest rates to be imposed on monetary obligations. As a rule, the interest rate agreed by the creditor and the debtor is binding upon them. Stipulated interest rates are illegal if they are unconscionable and the Court is allowed to temper interest rates when necessary. In exercising this vested power to determine what is iniquitous and unconscionable, the Court must consider the circumstances of each case. What may be iniquitous and unconscionable in one case, may be just in another. This rule, however, is not absolute. There are plenty of cases when the SC equitably reduced the stipulated interest rates; for instance, from 18% to 10% per annum. The SC also voided the stipulated interest of 5.5% per month (or 66% per annum), for being excessive, iniquitous, unconscionable and exorbitant, hence, contrary to morals ("contra bonos mores"), if not against the law. The same is true with cases involving 36% per annum, 6% per month (or 72% per annum), and 10% and 8% per month. In these instances, the SC imposed the legal interest of 12% per annum.
