Math and Arithmetic
Business Accounting and Bookkeeping
Suppose you deposit 1000 in 3 payments of 333.333 each on January 1 of 2007 2008 and 2009 How much would you have in your account on January 1 2009 based on 8 percent annual compounding?
Does compounding quarterly earn you more than compounding monthly?
A bank is paying 7.5 percent APR on a CD Note The convention when there are no periodic payments is to assume annual compounding unless stated otherwise?
A bank is paying 7.5% APR on a CD. (Note: The convention when there are no periodic payments is to assume annual compounding, unless stated otherwise. Thus this is annual compounding.) If you put $2500 into an account, how much will the account be worth in 3 years? a. 3062.5 b. 3105.74 c. 2505.63 d. 4375 e. insufficient information to compute The answer is b) 3105.74. After the first year, it is worth $2687.50. After the second year it is worth $2889.06, and after the third year it is worth $3105.74. Just multiply 0.075 by the amount in the account at the beginning of the year to get the interest for that year, then add that amount to get the new value for the end of that year. you can get solution from onlinesolutionproviders.com
Asked in eBay, Credit and Debit Cards, Economics
What is usually the largest single account in the overall balance of payments?
Asked in PayPal
How can you receive online payments without a bank account?
How long paid delinquencies remain on your credit?
Asked in Banking
What type of compounding would you prefer in your savings account?
What is the interest on 1200 invested for 2 years in an account that earns 5 percent interest per year?
The answer, assuming compounding once per year and using generic monetary units (MUs), is MU123. In the first year, MU1,200 earning 5% generates MU60 of interest. The MU60 earned the first year is added to the original MU1,200, allowing us to earn interest on MU1,260 in the second year. MU1,260 earning 5% generates MU63. So, MU60 + MU63 is equal to MU123. The answers will be different assuming different compounding periods as follows: Compounding Period Two Years of Interest No compounding MU120.00 Yearly compounding MU123.00 Six-month compounding MU124.58 Quarterly compounding MU125.38 Monthly compounding MU125.93 Daily compounding MU126.20 Continuous compounding MU126.21
Difference between income and expenditure account and p and l account?
Differences Between Receipts And Payments Account And Income And Expenditure Account The following are the main differences between receipts and payments account and income and expenditure account: 1. Nature Receipts and payments account is a summary of cash transactions for a period and it is a real account. Income and expenditure account is a summary of expenditure and income like trading and profit and loss account and it is a nominal account. 2. Objective Receipts and payments account is prepared to show cash and bank receipts and payments during the period to derive closing balance of cash and bank. Income and expenditure account is prepared to show the net result of the operation during the period to derive surplus or deficit. 3. Recording All cash and cheque receipts are recorded on debit side of receipts and payments account where as all cash and bank payments are recorded on credit side. In income and expenditure account all expenditure of revenue nature are recorded on debit side and all incomes of revenue nature are recorded on credit side. 4. Capital And Revenue Items There is no distinction between capital and revenue receipts and payments in receipts and payments account. All expenses and incomes of revenue nature are recorded on accrual basis in income and expenditure account. 5. Contents Receipts and payments account contains only cash and bank transactions. Income and expenditure account contains both cash and non-cash expenses and incomes of revenue nature. 6. Balance Sheet Requirement Receipts and payments account is not required to prepare balance sheet. Income and expenditure account is required to prepare balance sheet. 7. Adjustments No adjustments are required in receipts and payments account. In income and expenditure account adjustments are made because it is prepared on accrual basis.
Can you make payments to a creditor who froze your bank account?
The part of the balance of payments account that lists all long-term flows of payments is called?
I want to begin making payments directly from my checking account when the payments are due. I do not want them taken out automatically, but to be able to pay on-line. Tell me how.?
Asked in Credit and Debit Cards, Credit Reports, Credit
Can you close your credit card account and continue to make payments?
Asked in Interest Rates
What is the difference between effective interest rates and nominal interest rates?
Nominal interest rate is also defined as a stated interest rate. This interest works according to the simple interest and does not take into account the compounding periods. Effective interest rate is the one which caters the compounding periods during a payment plan. It is used to compare the annual interest between loans with different compounding periods like week, month, year etc. In general stated or nominal interest rate is less than the effective one. And the later depicts the true picture of financial payments.