0
Is it right to offset deposits to the interest of a past due loan account of an individual and not to the principal balance of the loan?
Wiki User
∙ 12y ago
Yes.
Yes.
Yes.
Yes.
Wiki User
∙ 12y ago
Wiki User
∙ 12y agoYes.
Add your answer:
Earn +20 pts
Do all deposits gain interest?
Not all deposits gain interest. Deposits to a savings account in a bank usually earn interest. Security deposits sometimes earn interest depending on where you reside. Deposits into investments will earn interest and the rate depends on the state of the economy and the financial markets.
What is interest paid on the original principal plus any interest that has been left in the account?
Campound interest
What is the value of compound interest?
Compound interest increases the amount earned by adding credited interest to the principal, and interest will then be earned on that money as well. The longer the principal and interest remain in the account, the greater the earnings they will accrue.
What is good about interest-Bearing checking account?
There are many benefits one can receive on bank accounts which pay interest. Some of these include earning money while saving ones own. Some banks will waive service charges if ones account remains above a set dollar amount.
What is The addition of interest added to the principal in a retirement account over time?
compunding
How can banks afford to pay interest n their customers savings account deposits?
Because they're loaning the money in those deposits at double or more the interest rates that they're paying the depositors.
What is the Features of saving account?
Some features of a savings account include, the ability to draw interest, overdraft protection and the requirement for minimum deposits. Most banks offer savings deposits for their customers.
What addition of interest added to the principal in a retirement account over time is called what?
compunding
What is the addition of interest added to the principal in a retirement account over time is called?
compunding
What is the addition of interest added to the principal in a retirement account over time called?
compunding
A principal of 950 is invested in an account at 7 percent per year simple interest What is the amount of the principal after 5 years?
1282.5
What is owners savings?
An owner's savings account is also known as the owner's equity account. The owner's equity account keeps track of deposits and withdrawals to the account, and how much principal the owner has invested in the business.
