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If you invest 70000 at 12 return what is it worth in 15 years?
The answer depends on how the interest is compounded - but in simple interest compounded annually on $70,000 at 12 percent, the total value would be $383,150. The first year the investment would earn $8,400 ($70,000 x .12), and the "principle balance" would increase to $78,400. The second year interest would be earned on $78,400 ($70,000 + $8,400 earned in year one), which would be $9,408 ($78,400 x .12), making the new principle balance $87,808. Interest in the fifteenth year would be $41,052 paid on a principle balance of $342,098, for a total of $383,150.
From where can one get a no interest balance transfer?
US Bank Visa Platinum Card has a 0% interest balance transfer, but it is only available within the first thirty days of opening a credit card account.
What is plus mod balance in bank loan?
plus mod balance in bank loan is the money who pay on the bank that you loan with interest rate and original cost.
Difference between mod balance and available balance?
MOD stands for Multi Option Deposit. - In MOD, the surplus funds lying in the SB account isautomaticallytransferred to a FD a/c (so that the a/c holder earns more rate of interest). Available balance is the fund lying in the a/c holders SB a/c. The total amount in the credit of an a/c holder is the sum of both MOD and available balance. ( ie amount in credit of a/c holder = MOD balance + Available balance)
Why might the market value of a loan differ from its outstanding balance?
The balance of a loan depends on the original contract rate, whereas the market value of the loan depends on the current market interest rate.
Which formula determines the interest amount on a loan?
Current (principle balance) x (interest rate per year) x (amount of time). Examples: ~for calculating monthly interest, it would be (principle balance) x (interest rate) / 12. ~for daily interest, it would be (principle balance) x (interest rate) / 365.
Why do principle and interest varies over time?
The answer is called amortization. In a typical loan payment, interest is calculated based on the outstanding principle balance. When the periodic payment remains constant the amount of that payment allocated to interest declines as the principle balance is reduced.
How can one calculate their interest?
The formula used to calculate your interest is the principle balance, multiplied by the monthly interest rate. Then you mulitply that by the number of months in which you last paid interest.
Does interest continue to accrue on the interest balance after the principle is paid?
Interest on any account is paid before anything is paid on the balance. That's how credit card companies, well any lender makes a profit.
Is there a credit card available that offers zero interest on balance transfers?
Yes, there is a credit card available that offers zero interest on balance transfers. You can find it at www.creditcards.com/balance-transfer.php There are several credit cards and 0% is up to 18 months! http://www.creditimes.com/balance-transfer.html
Which credit cards offer a low interest balance transfer?
It depends on your situation. Usually Discover cards have a very low interest balance transfer available with the cards.
If you invest 70000 at 12 return what is it worth in 15 years?
The answer depends on how the interest is compounded - but in simple interest compounded annually on $70,000 at 12 percent, the total value would be $383,150. The first year the investment would earn $8,400 ($70,000 x .12), and the "principle balance" would increase to $78,400. The second year interest would be earned on $78,400 ($70,000 + $8,400 earned in year one), which would be $9,408 ($78,400 x .12), making the new principle balance $87,808. Interest in the fifteenth year would be $41,052 paid on a principle balance of $342,098, for a total of $383,150.
How does compound interest differ from simple interest?
With compound interest, you earn interest on the interest. Basically the interest payments are reinvested into the account whereas with simple interest, you only earn interest on the original balance. The interest payments are kept separate of the balance that you invested i.e.: with a bond, the interest payments don't go into a balance, you just get a check for them or rather your broker receives the check on your behalf and deposits it into your money market account which is separate from the bond that you purchased.
What is a deficiency balance for repossession Louisiana?
The deficiency balance in every state as relates to repossession is the outstanding balance of the original principle plus fees accrued by the repossession process that remain after the resale of the repossessed vehicle.
From where can one get a no interest balance transfer?
US Bank Visa Platinum Card has a 0% interest balance transfer, but it is only available within the first thirty days of opening a credit card account.
What is plus mod balance in bank loan?
plus mod balance in bank loan is the money who pay on the bank that you loan with interest rate and original cost.
If a loan has a pre-payment penalty attached to it would it still be viable to retire it?
No...and they make sure of that. Prepayments are there to make sure the Lender gets every penny they would have received if you stayed in the contract. Which means interest. If you pay out the loan you will pay interest and principle. Payments to your principle balance is equity.
