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If a person makes a deposit of 10000 or more into a bank account the bank must notify the?
Wiki User
∙ 15y ago
the federal gov't. taxes bro. there gonna want to know where that money came from so you better have an alliby.
Wiki User
∙ 15y ago
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What happens if you deposit a check for more than 10000 dollars?
The below things happen:You will get richer by $10000Your account will be credited with $10000The bank will notify will intimate law enforcement authorities about this large value deposit into your account (This is done to prevent money laundering and terrorist financing)All these are under the assumption that, the check you deposited gets cleared and you get the money.
If you deposit 10000 in a bank account that pays 8 percent interest anually how much would be deposited in your account after 5 years?
(10000)(0.8)(5)/100 ~ 10400
How do you transfer mod balance to available balance?
It is not money on deposit. It is "Multi Option Deposit" which means: you can decide upon the money going to Fixed Deposit for the minimum amount you set for your account. For instance: You have 50000 in your account. In normal scenario, you will be getting interest on the above amount as per saving bank interest rate. But in case you have MOD account, you can decide that what ever amount is surplus of 10000, it goes into MOD balance and for those amount, you get a interest rate as you get incase of Fixed deposit.
If you deposit 10000 in a bank account that pays 8 percent interest annually how much would be deposited in your account after 5 years?
Principle = 10,000/-Interest Rate = 0.08Tenor = 5 YEARSValue of deposit on maturity = Principle X (1+Interest Rate) ^ Tenor= 10,000 X (1+0.08)^5 = Rs 14,693.28
Can i have more then 10000 in your bank account?
Yes.
What happens if you deposit a check for more than 10000 dollars?
The below things happen:You will get richer by $10000Your account will be credited with $10000The bank will notify will intimate law enforcement authorities about this large value deposit into your account (This is done to prevent money laundering and terrorist financing)All these are under the assumption that, the check you deposited gets cleared and you get the money.
If you deposit 10000 in a bank account that pays 8 percent interest anually how much would be deposited in your account after 5 years?
(10000)(0.8)(5)/100 ~ 10400
If you deposit 10000 in a bank account that pays 10 percent interest anually how much would be deposited in your account after 5 years?
5000
How much do you need to deposit now into an account which pays you 3 percent compounded monthly to have 10000 in 25 years?
Deposit 4776.06 The frequency of compounding does not matter since the annual interest rate is given.
What does MOD balance mean?
money on deposit . It is not money on deposit. It is "Multi Option Deposit" which means: you can decide upon the money going to Fixed Deposit for the minimum amount you set for your account. For instance: You have 50000 in your account. In normal scenario, you will be getting interest on the above amount as per saving bank interest rate. But in case you have MOD account, you can decide that what ever amount is surplus of 10000, it goes into MOD balance and for those amount, you get a interest rate as you get incase of Fixed deposit.
Journalize A 10000 deposit from XYZ for 2000 unit of product XYZ has 20 days to purchase the good for the fair market value of the goods on the date of purchase otherwise the deposit will be refund?
[Debit] Cash / bank 10000 Credit Customer deposit 10000
Does a check show on your account?
Yes. Any cheque that was used on the account (for both deposits and withdrawals) would reflect in the bank statement of the account. For Ex: I give you a cheque for Rs. 5000/- which you duly deposit into your account and similarly deposit a cheque I got from my friend for Rs. 10000/-. Next week if I check my bank statement both these Cheques would be visible in my account statement.
Ryan was 8 when his parents invested 4000 in a certificate of deposit that pays 6 percent If Ryan leaves the account alone until it reaches 10000 how old will he be?
33
How do you transfer mod balance to available balance?
It is not money on deposit. It is "Multi Option Deposit" which means: you can decide upon the money going to Fixed Deposit for the minimum amount you set for your account. For instance: You have 50000 in your account. In normal scenario, you will be getting interest on the above amount as per saving bank interest rate. But in case you have MOD account, you can decide that what ever amount is surplus of 10000, it goes into MOD balance and for those amount, you get a interest rate as you get incase of Fixed deposit.
What if Jennifer deposited 10000 in an account that earns compound interest. The annual interest rate is 8 and the interest is compounded 2 times a year. The current balance in the account is 10?
No. If the account is earning interest the current amount should be greater than the initial deposit.
If you deposit 10000 in a bank account that pays 8 percent interest annually how much would be deposited in your account after 5 years?
Principle = 10,000/-Interest Rate = 0.08Tenor = 5 YEARSValue of deposit on maturity = Principle X (1+Interest Rate) ^ Tenor= 10,000 X (1+0.08)^5 = Rs 14,693.28
If you deposit 10000 on 3 percent interest what would it be weekly?
$5.77
