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When is interest paid?
Interest is usually paidin arrears, meaning at the end of each period. So if your loan has monthly payments, the interest would be due at the end of the monthly cycle. As an example, if my loan cycle was from the 15th of each month through the 15th of the next month, then I would pay interest for the period 15th January through 15th February on the 15th of February.Sometimes interest can be paid in advance, meaning at the start of each period. In the example cited above, interest in advance would be payable on the 15th January.
Which interest free credit cards offer the longest interest free period?
Some interest free credit cards that offer the longest interest free period are Capital One and Discover. They have good promotions for new customers that allow for an extended interest free period calculated at the time of approval.
What is the interest rate on 4700 if you paid 23.50?
The interest rate is defined in the context of a period of time. You have not specified any time period.
If you defer your student loan does it accrue interest while you are at school?
the deferment period is the period when the borrower makes no payments and the loan accrues no interest
What is refund of interest?
It is a refund of a percentage of interest one has paid during a particular period.
What is the meaning of interest on purchase price?
It means if u have something on hire purchase over a longer period you have to pay interest .
When is interest paid?
Interest is usually paidin arrears, meaning at the end of each period. So if your loan has monthly payments, the interest would be due at the end of the monthly cycle. As an example, if my loan cycle was from the 15th of each month through the 15th of the next month, then I would pay interest for the period 15th January through 15th February on the 15th of February.Sometimes interest can be paid in advance, meaning at the start of each period. In the example cited above, interest in advance would be payable on the 15th January.
What is the meaning of interest rate in math terms?
The meaning of interest rate is the amount of money that you earn (or need to pay) for each 100 units of currency which you lend (or borrow) for a period - usually of one year.
What term refers to the period of time when there was a renewed interest in culture and learning in West Europe?
The period of time when there was a renewed interest in culture and learning in West Europe is called the European Renaissance. The word is French meaning rebirth.
What kind of interest is paid on the deposit plus accumulated interest from period to period?
A Compound interest !
What is the meaning Renaissance?
Answer: Literally, renaissance means a "rebirth", or "revival". It is a time period when interest in art, literature, education, and other similar subjects, along with interest in Ancient Greece and Rome, was reborn.
What is The Meaning Of Renaissance?
Answer: Literally, renaissance means a "rebirth", or "revival". It is a time period when interest in art, literature, education, and other similar subjects, along with interest in Ancient Greece and Rome, was reborn.
What is meant by the term compound interest?
Compound interest means that the amount of interest earned during a period increases the principal, which is then larger for the next interest period.
What is the meaning of extent of interest?
extent of interest
What are the major differences between compound interest loan and simple interest loan?
With compound interest, the interest due for any period attracts interest for all subsequent periods. As a result, compound interest, for the same rate, is greater.With compound interest, the interest due for any period attracts interest for all subsequent periods. As a result, compound interest, for the same rate, is greater.With compound interest, the interest due for any period attracts interest for all subsequent periods. As a result, compound interest, for the same rate, is greater.With compound interest, the interest due for any period attracts interest for all subsequent periods. As a result, compound interest, for the same rate, is greater.
Accrued interest vs interest payable?
Interest payable is the interest that has not yet been paid to the customer on the deposit. Accrued interest is interest that is accumulated over a period ,especially from last payment made to the customer. The primary formula for calculating the interest accrued in a given period is: where, T = number of days in the period/number of days in the year
When the amount earned on a deposit has become part of the principal at the end of a specified time period the concept is called Answer discount interest compound interest primary interest?
If the interest is reinvested and so itself gains interest (in the next interest period) it is compound interest.
