The formula for compound interest is
FV = PV * (1 + i) ^ t
Where
FV = Future Value
PV = Present Value
t = time
i = interest rate
As an example, suppose you have $100 now, the interest rate is 5%, and the time is 4 years. The future value is then
FV = $100 * (1 + 0.05) ^ 4 = $100 * (1.05)^4 = $100 * 1.21550625 =~ $121.55
After four years, you will have $121.55. Note the answer has been rounded to the nearest cent.
800 x (1.04)6 ie Rs1012.26
If the rate of annual interest is r% the period is n years and the amount invested is y Then the compound interest is y*(1+r/100)^n - y
ask in the bank
simple interst is when you earn interest from your principal but compound interest is when you earn interest from your principal as well as from your previous interest
canara bank does not have website facility to find the 13 digit account number. Best thing is to contact the branch itself or if other branches of canara bank who will mostly oblige
The number of times interest is calculated for your account Total in your account Interest rate
For one to find a high interest savings account, check with local banks. Every bank has different interest rates find one that best suits the customer and set up a account.
You can find a bank that gives you money by opening a savings or checking account with a bank that offers interest on your deposits. Look for banks that have competitive interest rates and low fees to maximize the money you can earn.
You can find an interest calculator by logging into your bank account. Once you are logged in you will be able to find various tools to help you with calculating various aspects of your finances, including an interest calculator.
To find the highest CD interest rates you can go to the cdrates.bankrate website. You can also contact the company or bank you have your account with.
A local bank is the very best place to find information on how to open a checking account. Each bank has different incentives, interest rates and promotions. Some banks will even offer a gift card for opening an account.
A few places that offer high interest savings accounts are American Express, Ally Bank, Regions Bank, Citi Bank, Discover Bank, and Trust Bank. Most require a minimum balance to be eligible.
To find money market account interest rates, one would have to contact a bank or broker. That would be the best way to get the best rates currently in effect.
The best place to start a savings account would be any bank closest to you. And find the bank with the highest interest rate. There's also a website called BankRate which you can use to find the best bank in your area.
There are very few banks with high interest savings account. At best you can get an account with abotu 1% to 2% interest. Ally bank offers accounts and CDs with these rates and at times have specials for 5% lock in rates.
To find your bank account number, you can check your bank statement, online banking account, or contact your bank directly for assistance.
The best place on the internet to find the best interest rates for a bank savings account would be Money Supermarket. One can check all the savings rates and accounts in the United Kingdom.