Interest is usually not charged on interest and is called capitalizing interest. On some occassions banks may roll interest on a note and thus charge interest on the interest, but this is not advisable and is only done in certain situations that demand that it be done.
The true annual rate of charged interest is called the annual percentage yield. It is the interest charged and compounded against.
interest charged to bank accounts
interest
The fee charged to borrow money is called interest.
Usury
No... this is illegal..(Federal).....no intrest can be charged on owed interest.
The true annual rate of charged interest is called the annual percentage yield. It is the interest charged and compounded against.
It varies ... loans for different items are charged at varied interest rates.
Sure.
There is no interest being charged.
interest charged to bank accounts
interest
dnt kno
Overdraft is a form providing loan. Hence interest will be charged, even though it is on a temporary basis.
Simple interest is interest that is calculated only on the amount of unpaid principal on a loan. Such interest is not added to the value of the loan but is tracked separately. Compound interest is interest that is calculated on the total of unpaid principal and accumulated interest on a loan. The difference is in simple interest there is no interest charged on accumulated interest while in compound interest there is interest charged on accumulated interest.
The fee charged to borrow money is called interest.
Usury