Banking

Salary and Pay Rates

Certificates of Deposit

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It depends on how you deposit the money 1 million. Checking accounts usually pay very little or 0 interest so we won't be taking that as an option.

a. Savings Account - Savings account usually earn around 1% interest per year. So it will be: 833.33 dollars in 1 month

b. Certificate of Deposit - CD's usually earn around 4% interest per year. So it will be: 3333.33 dollars in 1 month

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0An interest bearing CD (Certificate of Deposit) is when you deposit an amount of money, usually with a minimum limit, for a set amount of time, usually six months or one year. At the end of the term you can cash the CD in for the money plus interest earned. A good idea for making a little bit of money without having to part with it for too long.

Amount to Deposit (P) = ? Time (N) = 15 months or 1.25 years Rate of Interest (R) = 5 Interest Earned = 200 Formula for Interest = P * N * R / 100 Rearranging the formula we get: P = Interest * 100 / N * R = (200 * 100) / 1.25 * 5 = 20000 / 6.25 = 3200 If they want to earn 200 interest they must deposit 3200 as the amount for the certificate of deposit.

It means that the interest is paid out every three months (quarter year). That means that the interest paid out after 3 months is earning interest for the remaining nine months. The quarterly interest rate is such that this compounding is taken into account for the "headline" annual rate. As a result, if the quarterly interest is taken out, then the total interest earned in a year will be slightly less than the quoted annual rate.

When you put money in a savings account, you can draw it out at any time. In a certificate of deposit, you agree to leave it in the bank for a certain period of time. They pay slightly higher interest because they know that money will be there for 3 months, 6 months, 1 year, etc. If you draw it out early, they reduce your interest.

6.99/100 * $12000 * 72/12 = $5032.80 interest earned

7% of 3,000 for 6 month

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/-

Recurring Deposit: A Recurring Deposit account is one in which the customer deposits a small sum of money (usually a few hundred or thousands) every month. The bank accepts a deposit every month and at the end of the deposit period (usually 12 months or higher) the bank would return the money deposited with them along with a good interest. Term Deposit: A Term Deposit or a Fixed Deposit (FD) Account is one in which the customer deposits a big sum of money (Usually a few thousands and upwards. There is actually no limit to the amount of money you can deposit in a FD) for a fixed duration of time (Atleast 3 months or higher). Since you agree to keep the money deposited with the bank for a fixed/agreed upon duration, the bank gives you a very good interest as payment for keeping the deposit

Two and a half percent of 750 ie 2.5 x 7.5 which is 18.75

yeah, you spelled monts instead of months, not sure i want to further this conversation your company.

Yes. Fixed Deposit and Term Deposit both refer to the same thing. A deposit account is one in which you keep a fixed sum of money for a specific duration (Usually atleast a few months) based on an agreement with the bank. The bank does not expect you to withdraw funds regularly from this account and hence gives you a better interest rate.

PNC Bank compiles interest on a checking account yearly. Your statement likely contains potential earned interest every month. It will be compiled every 12 months.

A Recurring Deposit account is one in which the customer deposits a small sum of money (usually a few hundred or thousands) every month. The bank accepts a deposit every month and at the end of the deposit period (usually 12 months or higher) the bank would return the money deposited with them along with a good interest.

Wikipedia is a good place to start researching about CD's (Certificates of Deposit). A CD is a time deposit offered by banks, institutions and credit unions in the United States. CDs are different from a savings account because they have a specific term length, ranging from 3 or 6 months or 1 to 5 years. The intention of a CD is to hold it (in the bank) until it has reached maturity, cashing out early will cost you a fee as well as any future interest you may have earned.

2.88% means 2.88/100 = 0.0288 times principal 0.0288 * 575 = 16.56 * 3 = $49.68 simple interest

1/12th of 5% because there are 12 months in a year. ANSWER:- 1/60th per cent, which is the same as 0.01667 of the amount invested.

CD stands for certificate of deposit. Basically, you deposit money for a period of time such as 30 days , 60 day, 3 months, 6 months or more. You cannot take out the money until the time has passed without a serious financial penalty. These accounts usually have better interest rates than savings accounts.

no, as it is stated in the contract. A deposit is for damages after tenant has vacated the premises.

A FD Account is one in which the customer deposits a big sum of money (Usually a few thousands and upwards. There is actually no limit to the amount of money you can deposit in a FD) for a fixed duration of time (Atleast 3 months or higher). Since you agree to keep the money deposited with the bank for a fixed/agreed upon duration, the bank gives you a very good interest as payment for keeping the deposit The advantage is the fact that you earn a very good interest on the money you place as a fixed deposit

A Demand Deposit or Term Deposit or a Fixed Deposit (FD) Account is one in which the customer deposits a big sum of money (Usually a few thousands and upwards. There is actually no limit to the amount of money you can deposit in a FD) for a fixed duration of time (Atleast 3 months or higher). Since you agree to keep the money deposited with the bank for a fixed/agreed upon duration, the bank gives you a very good interest as payment for keeping the deposit

A Recurring Deposit account is one in which the customer deposits a small sum of money (usually a few hundred or thousands) every month. The bank accepts a deposit every month and at the end of the deposit period (usually 12 months or higher) the bank would return the money deposited with them along with a good interest. You can open a RD account by visiting any bank and filling up the form that is used for opening an RD and pay the first months money to the bank teller.

12 million. 12 months in one year multiplied by a million.

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