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To the depositor, it is an income but to the bank or institution providing the fixed deposit as a product, it is an expense.
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Highest Interest in which deposit - recurring deposit or fixed deposit?
how to calculate Recurring deposit interest ?
What is the benefit of fixed deposit interest rates?
Fixed deposit interest rates is a guaranteed interest rate for the entire term of an investment. They allow for the customer to earn high interest rates.
Is fixed deposit and recurring deposit rate of interest is same?
No. In most cases the rate of interest offered on fixed deposits and recurring deposits is different. Usually the rate of interest on a fixed deposit is much higher than a recurring deposit because you will be depositing the entire amount in one shot and leave it with the bank for the duration whereas in a recurring deposit you'll pay only the part of the money at a time. So the difference.
How much interest would you get on 50000 at 6 percent each year fixed deposit?
Interest per year = p * n * r / 100 P - amount you deposit N - number of years R - rate of interest You will get 3000 every year for a fixed deposit of 50000 @ 6% per year
Which is better recurring deposit or fixed deposit?
Actually both of them have their own benefits and drawbacks. In terms of rate of interest an fixed deposit will give you more interest than a recurring deposit. In terms of ease of operation and opening a recurring deposit is easier because it will need much less contribution and on a regular basis whereas you need to deposit in lumpsum in case of a FD.
Is interest from fixed deposit an expense or income?
an income
How do you make journal entries on provision on interest on fixed deposit?
To make a journal entry for provision on interest on fixed deposit, you would debit the Provision for Interest on Fixed Deposit account to recognize the expense and credit the Interest Income account to reduce the income earned on the fixed deposit. This adjustment ensures that the financial statements reflect the estimated liability for future interest payments accurately.
A company's fixed interest expense is 8000 its income before interest expense and income taxes is 32000 Its net income is 9600 The company's times interest earned ratio is?
Formula for times interest earned = earning before interest and tax / interest expense Times interest earned = 32000 / 8000 = 4 times
Highest Interest in which deposit - recurring deposit or fixed deposit?
how to calculate Recurring deposit interest ?
What is Accounting entry of interest on fixed deposits?
fixed deposit A/c dr. to int on fixed deposit
What is a fixed interest?
Fixed interest means that the interest on a loan or deposit does not change as the result of market fluctuations.
Is interest on fixed deposit located on income statement or balance sheet?
both.. balance sheet under liquid asset..income statement under inflow/income..
Is interest expense a fixed cost?
yes
What is the benefit of fixed deposit interest rates?
Fixed deposit interest rates is a guaranteed interest rate for the entire term of an investment. They allow for the customer to earn high interest rates.
How do you calculate interest rate for fixed deposit for a month?
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How do you calculate fixed deposit interest?
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
Is the interest on a fixed deposit are revenue?
Yes of course, the interest on a fixed deposit is revenue because revenue is something owed but not yet paid. Hence, we can call it as revenue. Many Banks such as Axis, ICICI, IDBI and NBFCs like Bajaj Finserv are offering good interest on fixed deposit which can be called as revenue.
