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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?
Wiki User
∙ 12y ago
compoind interest
Wiki User
∙ 12y ago
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What is a deposit that gives a certain amount of interest in a specified amount of time?
time deposit
What is meant by fixed deposits?
Fixed Deposit also called as term deposit in many countries works in a very simple manner as decided by Financial institutions. You have to deposit your money for a fixed tenure and you get a legitimate interest on that amount. Once the tenure is completed, you get your money after maturity. The final amount contains Principal amount Plus Interest Rate.
Is the base amount of a loan the principle or the principal?
The principal.
What is the maximum amount of cash you can deposit in a bank?
Banks will accept any amount if you deposit it. However any cash deposit made over $10,000 will be reported to the IRS.
What are fixed deposit accounts?
A Fixed deposit account is one in which you deposit a specific amount of money with a bank for a specified duration of time. you cannot withdraw that money before its maturity date. if you do you would have to pay a penalty for doing the same. usually fixed deposits offers us a higher rate of interest than normal bank accounts
What is a deposit that gives a certain amount of interest in a specified amount of time?
time deposit
How do you calculate fixed deposit interest?
Fixed deposit interest is calculated using the simple interest concept Interest = (principal * no. of years * rate of interest) / 100 principal = the amount you deposited rate of interest = the amount in % Ex: Deposit amount - 10,000 Rate of interest = 10% no of days = 365 Interest = (10000 * 365 * 10) / (365*100) = 1000
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.
What does principal mean in math terms?
principal(in terms of math)- the amount you borrow or deposit
How do you calculate fixed interest?
Fixed deposit interest is calculated using the simple interest concept Interest = (principal * no. of years * rate of interest) / 100 principal = the amount you deposited rate of interest = the amount in % Ex: Deposit amount - 10,000 Rate of interest = 10% no of days = 365 Interest = (10000 * 365 * 10) / (365*100) = 1000
How do you spell bank principle?
The spelling of the term used in finance is principal(beginning amount of deposit or loan).The sound-alike word principle means a scientific or moral concept.
What is meant when one says the are making a fixed deposit?
A fixed deposit is a loan arrangement where you place a specified amount of money into the name of the account holder. A fixed deposit generates a fixed amount of interest over a period of time and cannot be withdrawn for a specified period of time.
How do you spell bank principal?
That is the correct spelling of "principal" as used in finance, meaning the base amount of a deposit, investment, or loan. This is also the spelling used for school principals (faculty heads).
What is meant by fixed deposits?
Fixed Deposit also called as term deposit in many countries works in a very simple manner as decided by Financial institutions. You have to deposit your money for a fixed tenure and you get a legitimate interest on that amount. Once the tenure is completed, you get your money after maturity. The final amount contains Principal amount Plus Interest Rate.
how much interest will you get at the end of the year if the interest is 2.05 pa?
Assuming it is 2.05 percentper annum, then 2.05% of the amount that you deposit (or 2.05% of the average amount of your deposit).Assuming it is 2.05 percentper annum, then 2.05% of the amount that you deposit (or 2.05% of the average amount of your deposit).Assuming it is 2.05 percentper annum, then 2.05% of the amount that you deposit (or 2.05% of the average amount of your deposit).Assuming it is 2.05 percentper annum, then 2.05% of the amount that you deposit (or 2.05% of the average amount of your deposit).
Does CD Rate stand for Certificate of Deposit Rate?
Yes it does. It is the interest rate assigned to a certificate of deposit at the time it is purchased. They generally offer a fixed rate of return for a specified period, which then nominally increases with the amount or the term of the investment.
Are certificates of deposit considered a component of fianance?
Certificates of deposit are a component of sound financial practice. While they require the money to be left alone for a specified amount of time, they gather interest to compensate the investor for the use of his money for that period of time.
