Annual interest rate
$55.76 = $1239.12 x 0.045
It is a determined value or an estimate.
To find the interest rate percentage, divide the annual interest amount by the principal amount and then multiply by 100. In this case, the calculation would be ( \frac{3357.15}{144000} \times 100 ). This results in an interest rate of approximately 2.33%.
You cannot.If you increase 1 by 43 you get 44 which is multiplying by 44If you increase 2 by 43 you get 45 which is multiplying by 22.5If you increase 1000 by 43 you get 1043 which is multiplying by 1.043A different multiple each time!
INTEREST =op
Simple interest is determined by multiplying the interest rate by the principal of the number of periods. Where, P is the loan and the amount is usually expressed as an annualized percentage.
The amount of money in a checking or a savings account is the balance. The interest is usually based on the balance.
Karnataka bank in india has highest interest in savings account. For the amount kept between 7 to 45days you get 4.5% as interest
High interest savings accounts are savings accounts that banks give you that let you earn lots of interest with benefits. They usually are the toughest to get because you need to deposit a certain amount of money.
No they don't.
The simple interest in this case is $145,000. It is calculated by multiplying the amount by the interest rate and the length of time.
With a high interest savings account, the saver can get a large return on their savings. At current rates, the interest can range between 3-5%. However a large amount of accounts with higher interest may impose a penalty if you withdraw from that account.
Credit Union have a savings plan where the amount of interest earned is dependant on the amount of money being saved. Further information can be found on the Credit Union website.
With a high interest savings account, the saver can get a large return on their savings. At current rates, the interest can range between 3-5%. However a large amount of accounts with higher interest may impose a penalty if you withdraw from that account.
ANSWER It is called "interest".
interest
The amount of interest earned on an investment is calculated by multiplying the principal amount invested by the interest rate and the time the money is invested for. This formula is typically expressed as: Interest Principal x Rate x Time.