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How much interest will she receive in a year when a bank pays 10 percent interest pa on Mary's deposit account of 400?
Wiki User
∙ 14y ago
10% of 400. = 40. So Mary will receive $40.00.
To find ten percent of anything is real easy. All you have to do is move the decimal point one place to the left.
10% of 200.00 = 20
10% of 23.45 = 2.345
10% of 2.34 = .234
Naka sabut Ka?
Wiki User
∙ 14y ago
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How do you calculate interest of 6 months fixed deposit with the principal of 10000 and the interest rate is 8 percent?
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/-
Why is a bank willing to protect your money for free or for a low cost?
The main business of banks is to take the money they receive in deposits, pay minimal if any interest to the deposit account holders, and loan that money out to others, who in turn pay the bank interest on the loan.
Why is a bank willing to protect your money for free or a low cost?
The main business of banks is to take the money they receive in deposits, pay minimal if any interest to the deposit account holders, and loan that money out to others, who in turn pay the bank interest on the loan.
At a bank to receive interest is a minimum balance required?
If an account is interest based then any amount is fine
What do banks do with the deposits they receive from their customers?
They use that money to grant loans to other customers. Any deposit money received by the bank is used to grant loans to customers. The banks charge an interest from the loan customer and pay an interest to the deposit customer. Usually the interest charged to the loan customer is higher than that paid to a deposit customer.
Where can one obtain a certificate of deposit interest?
One can receive a certificate of deposit interest from their bank. They could also log on to their digital banking account and find out that way it's easy.
You have an account that increased over a 12 month period from 8765.00 to 9006.04 what percent interest did you receive?
2.75
Eric earns 6.5 percent simple interest annually on his savings account he has a beginning balance of 459.32 How much interest does he receive?
29.86
Calculate the simple interest you would receive in one year on a savings account that earns 5 percent annual interest What if your beginning balance is 255.19?
12.76
Calculate the simple interest you would receive in five years on a savings account that earns 7.5 percent annual interest What if your beginning balance is 1236.59?
463.72
You invest 5000 in a Certificate of Deposit and receive annual interest of 8 percent for 7 years How much interest will investment earn during this period?
Certificates of Deposit (CDs) may allow interest to be paid out annually. Alternatively, the annual interest can be accumulated and compounded until maturity. The choice must be made at the point of taking out the CD.Annual payment of interest: On each anniversary date the annual interest is paid by transferring it to your current account or to a savings account etc of your choice. This means there is no compounding of interest, year on year.Calculation:5000 at 8 percent is 400. You will receive 400 each year, for 7 years, a total of 2,800.Interest compounded and paid at maturity:Statement of end of year values including interest, at end of year:5400.005,832.006,298.566,802.447,346.647,934.378,569.12At the end of year 7 the total payout will be 8,569.12 i.e. 5000 initial deposit + 3,569.12 total interest earned.NOTE: These calculations assume that no tax is deducted at source.For more information, see Related links below
How can you purchase Swiss Francs to hold?
You can; 1) Buy cash and hold it - you will receive no interest 2) open a Swiss Franc account and buy and deposit there. You will receive interets, but it is virtually 0% (see 1)
Sam has a savings account that increased in value over a 12 month period from 8765.00 to 9006.04 what percent interest did he receive?
2.75%
Difference between current account and savings bank acount?
A savings account is one in which you can deposit your money, but there is a limitation on the number of transactions (Both credit and debit) that you can perform on your account. You will receive a nominal interest rate of around 4% per year on the minimum monthly balance you maintain in your account. A current account is similar to your savings account with a small difference. You can have unlimited number of transactions on your account. Also you do not receive any interest on your deposit money. Savings accounts is for normal citizens and Current accounts are for businesses and organizations.
Cindy has a savings account with National Bank She earns 4.5 percent annual simple interest on 1239.12 What amount will she receive in interest in one year?
$55.76 = $1239.12 x 0.045
How do you calculate interest of 6 months fixed deposit with the principal of 10000 and the interest rate is 8 percent?
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/-
How much interest would you receive for 2000 at 1 percent interest rate for 1 year?
1 percent of 2,000 is 20 .
