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How do you find the principle with an interest of 50 for 1 year?
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∙ 15y ago
you multiple principle with th erate aafasddf you multiple principle with th erate aafasddf you multiple principle with th erate aafasddf you multiple principle with th erate aafasddf
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∙ 15y ago
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What is the similarity between simple interest and compound interest?
Simple interest is calculated on the principal only. If you have $1,000 and earn 5% interest per year, you will receive $50 at the end of year one. At the end of year two, you will receive another $50. And on it goes. With compound interest, you earn interest on the principal plus any interest you previously earned. Looking again at the previous example, at the end of year one you will still receive $50. At the end of year two, however, you will receive $52.50. Why? Because the 5% is paid on the principal PLUS the interest you previously earned. At the end of 10 years, you'll receive $77.57. After 20 years, $126.35. With simple interest you would still receive only $50.
What is the simple interest of a loan for 1000 with 5 percent interest after 3 years?
$150. 5% interest per $1000 is $50 per year. You had the loan 3 years- $50 x 3.
What is the simple interest of a loan for 1000 with 5 percent interest after 5 years?
$150. 5% interest per $1000 is $50 per year. You had the loan 3 years- $50 x 3.
Is interest compounded weekly is compounded fifty times a year false?
Yes: a year is not 50 weeks.
What is the simple interest for a loan with 500 principal 10 percent annual rate and a 2 year time period?
500 principal, 10 percent annual rate => 50 annual interest 2 year => 100 total interest.
How does a compound interest differ from a simple interest?
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.
Where can one find high interest rate savings accounts?
One can find highest interest rate savings accounts in the following; United Bank UK has 2% rate interest, Bank of Baroda has 1.90% fixed interest, and Barclays has 1.30% and .50% bonus for 12 months which is variable.
20000.00 loan for 50 days at 6 percent interest?
The answer is 1200.00 dollars in interest on that loan of 20000.00 for 50 days at 6 percent interest.
Where can a 50 year old find a young woman?
http://www.chatzy.com/276813108237 ... :)
James has purchased a 10-year bond that pays a 50 coupon. If interest rates go up .?
the bond PRICE will go DOWN
Does it benefit you if you have an interest only loan to pay extra toward your principle?
Yes. The interest only loan is simply that. You are only paying the interest on your loan. None of your payment is going toward the principle loan amount. The main advantage of an interest only loan is the drastically low monthly payment that you make compared to a traditional mortgage. Most of the interest only loans are based on a 10yr. term and MUST be paid off at that time. Most borrowers refinance at the 10yr. mark. This program is offered to borrowers with very good credit. A smart borrower knows that in the early years of a traditional mortgage his payment goes almost entirely toward interest. Gradually over the life of the loan his payment will go more and more to principle until near the very end of the loan almost all of the payments he is making will be going toward principle. The interest only loan can be used to drastically increase the amount of your payment that goes to principle in the first 10 yrs.. Here's how. Keep in mind that these are not accurate numbers and are being used to make it simple for this answer. Let's say your current payment is $1200/mo. Out of that $1200 only $50 is going toward principle and the rest goes to interest. You choose to refinance with an interest only loan and your new payment is $750/mo. This reduces your monthly payment by $450/mo. Out of the new $750/mo. payment NOTHING goes toward principle. The savvy borrower pays $1000/mo. instead of the required $750 and $250/mo. goes toward principle. This is $200/mo. more going toward principle than the traditional mortgage where only $50 was going to principle. It is also $200/mo. less than you were payingbefore. So your monthly payment is lower and you are chipping away at the principle of the loan much faster at the same time. Do some math and you will see how much faster your loan amount decreases compared to a traditional mortgage. Another advantage of the interest only loan is that you are only required to make the $750/mo. payment. So if things are tight one month...you can just make the interest payment. It only takes a little gumption to make this work for you. I am a licensed Loan Officer and have seen first hand the benefits of this program when it is used properly. Hope this helps.
How do people use percentage in their daily life?
In sales, for example a shop is having a 50% off sale. Or when you fix deposite interest, for example if you deposite 5000 in a bank you might get a 10% interest in the next year.
