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For Pigmy Deposit, the customer pay the amount daily basis. Keep this amount in Pigmy suspense A/c. After one month the whole amount transfer to Pigmy Deposit A/c. like wise 12 month (1 year is the limit of term to PD)
Method of Interest Calculation for Pigmy Deposit.
Assume the person deposited Rs. 100/- on daily for one year at an interest rate of 4% Per annum.
- Total Principal (P):
P= Daily Deposit XNo. of Days=Rs.100X365 = Rs. 36,500
Interest= Principle X % X 1 (means 1 year) = Rs. 1,460.00
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Highest Interest in which deposit - recurring deposit or fixed deposit?
how to calculate Recurring deposit interest ?
Jo wants to put some money in a 15th month certificate of deposit accounts that pay 5 percent annual interest He wants the account to earn 200 in interest. How much money should he put in the account?
Amount to Deposit (P) = ? Time (N) = 15 months or 1.25 years Rate of Interest (R) = 5 Interest Earned = 200 Formula for Interest = P * N * R / 100 Rearranging the formula we get: P = Interest * 100 / N * R = (200 * 100) / 1.25 * 5 = 20000 / 6.25 = 3200 If they want to earn 200 interest they must deposit 3200 as the amount for the certificate of deposit.
What is Tenure of deposit in month for recurring deposit?
interest
How do I get the best high certificate of deposit interest rates?
You will recieve a higher rate of interest as your deposit amount increases.
What is not a considered a debit?
direct deposit
The formula for ordinary interest using exact time is?
The formula for simple (ordinary) interest on a bank deposit is Deposit Amount x Rate x Time (# of days) on Deposit.
Highest Interest in which deposit - recurring deposit or fixed deposit?
how to calculate Recurring deposit interest ?
Jo wants to put some money in a 15th month certificate of deposit accounts that pay 5 percent annual interest He wants the account to earn 200 in interest. How much money should he put in the account?
Amount to Deposit (P) = ? Time (N) = 15 months or 1.25 years Rate of Interest (R) = 5 Interest Earned = 200 Formula for Interest = P * N * R / 100 Rearranging the formula we get: P = Interest * 100 / N * R = (200 * 100) / 1.25 * 5 = 20000 / 6.25 = 3200 If they want to earn 200 interest they must deposit 3200 as the amount for the certificate of deposit.
How is simple interest calculated in banks?
They use the below formula: Interest per year = p * n * r / 100 P - amount you deposit N - number of years R - rate of interest If you substitute the numbers corresponding to the amount that you deposit, the number of years and rate of interest, you can get the actual interest amount
What has the greater value 25'912 cash plus 29913 interest deposit or 18608 cash plus 37200 interest deposit?
25'912 cash plus 29913 interest deposit or 18608 cash plus 37200 interest deposit
Which has the greater value 24625 interest deposit plus 26250cash or 15840 interest deposit plus 36250cash?
15840 interest deposit plus 36250 cash is greater.
What is Tenure of deposit in month for recurring deposit?
interest
Which has greater value 52565 Cash plus 33455 Interest Deposit or 39999 Cash plus 44925 Interest Deposit?
my Question is which has greater value? $52.565 cash plus $33.455 interest deposit or $33.999 cash plus $44925 interest deposit
Interest rate on recurring deposit in Indian overseas bank?
interest rate of recurring deposit in iob
What is the formula for quarterly compounded interest in M S Excel?
Although Microsoft excel does not include a function for determining compound interest , you can use following formula for this calculation.=PV*(1+r)^NWhere PV = Present Valuer = Interest RateN = No of investment period.E.g1000 is deposit amount at 10% interest for 5 years, then formula is=1000*(1+0.10)^5The answer will be 1,610.51
How do I get the best high certificate of deposit interest rates?
You will recieve a higher rate of interest as your deposit amount increases.
Where could a person find the interest rates for certificates of deposit?
A person could the interest rates for certificates of deposit by using an interest rate calculator where the amount of the deposit is entered into an equation and the end result will be how much interest will be earned for the term you want.
