Fixed deposit interest is calculated using the simple interest concept
Interest = (principal * no. of years * rate of interest) / 100
principal = the amount you deposited
rate of interest = the amount in %
Ex: Deposit amount - 10,000
Rate of interest = 10%
no of days = 365
Interest = (10000 * 365 * 10) / (365*100) = 1000
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how to calculate Recurring deposit interest ?
The formula to calculate interest is as follows: Interest = Principal * No. of years * Rate of Interest / 100 So Interest = 10000 * 0.5 * 8 / 100 = 400/- The interest you will receive interest at the end of the 6 month period is Rs. 400/-
Fixed deposit interest is calculated using the simple interest concept Interest = (principal * no. of years * rate of interest) / 100 principal = the amount you deposited rate of interest = the amount in % Ex: Deposit amount - 10,000 Rate of interest = 10% no of days = 365 Interest = (10000 * 365 * 10) / (365*100) = 1000
Fixed interest means that the interest on a loan or deposit does not change as the result of market fluctuations.
Treasury Note is a debt interest and carry a fixed coupon rate of interest. It means the interest rate is fixed on the treasury note and it is given to the holder.
The interest rate on this credit card is fixed.
A fixed interest works as follows. You agree an amount you want to borrow, at what interest rate, and for how long. You then pay back that loan with that interest rate fixed, until the term ends.
I think its a simple interest rate that is calculated and added to the second leg of the transaction. It can be calculated keeping other interest rates in mind & is generally fixed by the central bank of the country.
It is a fixed rate of simple interest.
Debit fixed assetdebit interest expenseCredit cash /bank
The monthly interest rate for fixed rate bonds is the annual interest rate divided by 12.