0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
Why does 6.99 APR on your loan when calculated actually mean you will pay 22.88 total interest?
No one advertises an interest rate based on the total interest paid because almost all loans are calculated using a yearly simple interest rate. Your payment is then computed based on paying the loan off on a monthly basis. You can prove this to yourself by dividing the average interest paid by the average balance over a 12-month period.The longer you take to pay a loan off, the greater the total interest you pay for a given interest rate.
How is interest paid on debentures is shown in Financial statments?
interest paid for debentures is a/an
How do you calculate cost of deposit of banks?
cost of deposits= Interest paid on Deposits/Total deposits
What is A process where interest is paid on interest?
it's called compound interest
Interest paid on both the principal and the interest on the principal is what?
Compound Interest
What is the formula for finding an interest rate on a 10000 loan paid at the end of three years total paid is 12600?
126
If your husband's ins says the vested amount is does that mean that's the total amount or what is paid monthly?
Total amount after interest.
Is interest income earned in the US subject to withholding tax when paid to a foreign person?
Yes it is possible that the payer of the interest income would be required to withhold some taxes from the source of the interest income that is being paid to a taxpayer.
How frequently is interest paid on a bond?
Interest is usually paid semiannually.
What is the total of all taxes paid in the US?
feaderal taxes
Why does 6.99 APR on your loan when calculated actually mean you will pay 22.88 total interest?
No one advertises an interest rate based on the total interest paid because almost all loans are calculated using a yearly simple interest rate. Your payment is then computed based on paying the loan off on a monthly basis. You can prove this to yourself by dividing the average interest paid by the average balance over a 12-month period.The longer you take to pay a loan off, the greater the total interest you pay for a given interest rate.
How is interest paid on debentures is shown in Financial statments?
interest paid for debentures is a/an
Anika magerhans would like to borrow 2000.00 for 60 days the bank charges ordinary interest of 30.00 what is the interest rate charged?
Well assuming it is compounded monthly then the total interest rate charged will be 3.765%. The total interest paid will be $75.30. There will be two payments of $1037.65.
What is the best definition of compounding interest-?
Interest paid on interest previously received is the best definition of compounding interest.
How do you calculate cost of deposit of banks?
cost of deposits= Interest paid on Deposits/Total deposits
Which tax withholding is required by the US Federal government?
You are required to have paid in at least a total equaling 90% of your total income tax paid in the previous tax year. If you do not have at least that much paid and applied to your tax for the current year through withholding and estimated tax payments then you will be subject to a tax penalty plus interest.
What does quarterly mean in compounded interest?
It means that the interest is paid out every three months (quarter year). That means that the interest paid out after 3 months is earning interest for the remaining nine months. The quarterly interest rate is such that this compounding is taken into account for the "headline" annual rate. As a result, if the quarterly interest is taken out, then the total interest earned in a year will be slightly less than the quoted annual rate.
