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how to calculate Recurring deposit interest ?
Depending on who you are, the use varies. If you are the depositor - the person who is depositing the money, you will be earning an interest on the money you deposit. So, that is your use. If you are the bank then - you are getting money from a customer which you can use to grant loans to other customers. The loan customers will pay you an interest (which will be higher than the interest you pay to your deposit customers) which means you will make a profit through this transaction. This is your use.
interest
You will recieve a higher rate of interest as your deposit amount increases.
A certificate of deposit (CD) is a way for you to invest your money so that it earns high interest. A deposit into your National Bank Of Kansas City account will allow you to invest in a CD easily and at any time. When you put money into a CD your money grows by earning interest daily. Once the CD matures, you will have access to all of the money you deposited into the CD or you can choose to reinvest the funds in another CD. bankofkc.com /personal/cdfaqs.aspx
how to calculate Recurring deposit interest ?
(1.035)16 = 1.73398604 $500 ===> $866.99 (rounded)
Compound interest
No. If the account is earning interest the current amount should be greater than the initial deposit.
Yes. The interest earned by the bank is revenue to the bank and the interest paid by the bank to its deposit customers is revenue for the customer. Either ways it is considered an income or revenue. And, the person earning this revenue is liable to pay taxes for it.
25'912 cash plus 29913 interest deposit or 18608 cash plus 37200 interest deposit
Depending on who you are, the use varies. If you are the depositor - the person who is depositing the money, you will be earning an interest on the money you deposit. So, that is your use. If you are the bank then - you are getting money from a customer which you can use to grant loans to other customers. The loan customers will pay you an interest (which will be higher than the interest you pay to your deposit customers) which means you will make a profit through this transaction. This is your use.
15840 interest deposit plus 36250 cash is greater.
interest
Banks earn a profit on the difference between the interest they earn through the loans disbursed to customers and the interest they pay to their deposit customers. For Ex: If a bank earns a 10% interest on loans and gives a 7% interest on deposits, the profit they are earning here is 3%
my Question is which has greater value? $52.565 cash plus $33.455 interest deposit or $33.999 cash plus $44925 interest deposit
Assuming the 4.4% is per annum, the calculation, where p is the amount of the deposit, your equation is 5/12 x 4.4/100 x p = 510 = 27,818 to the nearest whole number