Interest on a savings account is the amount of money a bank or financial institution pays on your deposits. Compound interest is when interest is added to your deposit, then interest is calculated on that new higher amount. Compound interest on a savings account is calculated on principal and...
The interest rate on a savings account is typically: A. Higher than the interest rate on a loan B. Lower than the interest rate on a loan C. Equal to the interest rate on a loan D. None of the above 相关知识点: 试题来源: 解析 B 反馈 收藏 ...
Once you have the information, you can plug it into the simple or compound interest formulas to figure out the interest earned on your savings. For example, the interest you earn on your savings in one period is simple interest. How to Calculate Compound Interest on a Savings Account To cal...
To begin, identify the current interest rate (rate of return) that your financial institution pays on the balance in your savings account. This can usually be found on your savings account statement, or the bank's website. Typical rates on savings accounts are low since the money is usually...
Fortunately, calculating interest on a savings account is not as tough as you might think. Read: Best Savings Accounts. Types of Savings Account Interest Account holders will come across two types of interest on savings – simple interest and compound interest: Sponsored Bank Accounts 1 Vystar ...
pay interest 支付利息 All banks pay interest on savings accounts.所有的银行都会对储蓄账户支付利息。earn interest 赚取利息 If you put money in a saving account it will earn interest.如果你把钱存在储蓄账户的话就能赚取利息啦。正是因为interest和“利息、利益”有关，所以“self-interest”可以表示自私...
Tom has decided to leave the 120 in his account so that he can earn interest on the $120 this year. This process of earning interest on prior interest earnings is called: A. discounting. B. compounding. C. duplicating. D. multiplying. E. indexing. 相关知识点: 试题来源: 解析 B ...
it allows you to earn a little interest on your money. 这可使你从存款中获得一点利息。 the account carries interest of 4%. 该存款有 4%的利息。 the interest is added to your account every year. 每年的利息都加到你的存款中。 the interest rate for the savings account is 4%. 储蓄存款的...
is a type of savings account that offers a higher interest rate than a standard savings account. Your money can grow faster over time, while still being available to you when you need it. Interest is calculated daily on the closing balance and paid monthly. It is a secure and convenient ...
I put ＄100 in a savings account. At the end of each year, I earned 10% interest on the balance of my account at that point. With no deposits or withdrawals, after 5 years I had ? . (Round to the nearest dollar.) A. ＄162 B. ＄161 C. ＄160 D. ＄150 相关知识点: 试题...