does interest on money in bank accounts accumulate monthly or yearly?
117435
It accumulates every day but it's only paid out every so often.  Most bank accounts seem to pay quarterly.
705943
its a payment that U set up for an amount to come out at a certian point.  I have a standing order set up for money to come out of my account each month and go into a joint account.  If you call you bank they will be able to explain in more detail.
246226
Simple interest means it's NOT compounded.  The interest is therefore\n\n$14,256 * 5% = $712.80 per year for 3 years, or $2,138.40.
511733
Depends.  There should be an explanation as to what those details are (interest payments, fees).  Call your bank and ask for an explanation if you still don't understand.
642311
interest-SIMPLE INTEREST
149317
There really are no calculations because they are not charging you ANY interest at all (probably for a certain amount of time only, right?) You will only be paying the Principle during that time, which means you are making a payment that actually reduces the total cost by the exact amount you pay.  WHen interest begins accruing, then each payment you make will be partially going to the product cost (prinicple) and partially to the interest cost (the creditor's profit for lending the money).  There is no better interest rate than 0%.  So, good going!
925303
the formula for compound interest yearly is\n\nA=P(1+r/n)^(rn)\n\nwhere\nA=final amount\nP=Initial amount\nr=rate in deciamals\nn=number of times coumponded yearly \nMontly=12,quartely=4,daily=365.....
963593
The rate of interest will vary according to the type of account.\n\nIf you want instant access you will get a low rate. If you give notice (30/60/90 days) the rate will be higher. If you are able to tie the money up (1 year/2 year or more bonds) the rate will be even higher. This is due to the provider being able to to use the money to get higher returns if it knows it will be with them for longer. If you are a tax payer be sure to ask for the net rate (tax paid).\n\nRates can also vary by the amount invested i.e tiered so that a higher balance earns more than a low balance.\n\nIf you don't have an ISA, then these are usually higher rates than standard accounts and tax free. There are restrictions on the amount that can be invested though.\n\nAlliance and Leicester have just introduced a 12.0% regular saver account. This is the highest rate on the high street for regular savings between £10 and £250 per month.\n\nBeware though, if you pay in £50pm then you will earn interest on £50 in month one (1/12 X £50 X 12% = £0.50). The interest will get more as the months progress as it is calculated daily. You may be better off paying in the full £600 into an ISA.\n\nHope this helps.
956713
Interest.\n\nSome banks also have hidden fees.
146461
$5000 saved in an account earning 4.75% yearly, compounded daily, will yield $243 in one year. If it's compounded daily, your monthly return will vary, but it averages out to $20.25 a month.\n\nDinkytown has the best free calculators anywhere, below:
187026
This may seem tricky, but it's not that hard.  The formula to calculate the monthly interest needs APR (Annual Percentage Rate), and you have the APY (Annual Percentage Yield).  We can approximate the APR from the APY, so, again it's not a big deal.\n\nThe formula is monthly_interest = APR/365 * days_in_month * monthly_balance.  As you know, leaving the monthly interest in your savings account will increase your balance, giving you more interest the next month.  An APY or 4.8% is likely based on an APR of 4.7%.  An APR of 4.7% actually gives an APY of 4.8026%  Confirm the actual APR with your bank.  \n\nUsing 4.7% as the APR and your current balance of $113.94, we get the first month's interest of .047/365*30*113.94 = $0.440152 or 44 cents.  Notice that I assumed the month has 30 days.  Longer months will get you a few more cents of interest.\n\nBest of Luck.
742272
An Interest Rate of 5.000 % compounded Annually\nWith an Initial Amount of $ 4000.00 over an 8 year term:\n\nYr   Ending Balance\n1    4200.00\n2    4410.00\n3    4630.50\n4    4862.02\n5    5105.13\n6    5360.38\n7    5628.40\n8    5909.82\n\nFinal Savings Balance: $ 5909.82\nInitial Investment plus Monthly Contributions: $ 4000.00\nTotal Interest Earned: $ 1909.82\n\nThis should answer your specific question, however, please know that most banks compound interest daily in that scenario you would have earned $ 1967.13 for a total of $5967.13.\n\nHope this helps!
515072
Most bank use " average daily balance" to compute the interest of a simple checking/savings account.As this is how most banks earn their money,based on their average daily balance.The make money on your money ,or in street terms " other peoples money ".Sometimes some banks offer more interest on your money if it is left in the bank for a longer period of time. If enough people in the banking system do this it increases the average daily balance for the bank which in turn increases the amount of money the banks make/have.
1112463
It TOTALLY depends on the amount of time the loan is taken out for.  If it is just a line of credit (revolving), depends how much the business makes.  If you take out a "5" year loan, at 8.25% interest, well then, it will take you 5 years to pay, and your interest over time would be $11,188.75.  If you have Microsoft Excel, go in there and search for "loan amortization".  They have a designed schedule that let's you put in the loan amount, interest, time, etc.
434643
This depends onthe bank and savings acct you open.  Most compound interest daily but either pay it monthly or quarterly.  It sounds like a money market acct may be a good option for you, the interest rates are generally higher than traditional savings accts and do require a larger initial deposit.  READ THE TERMS AND FINE PRINT FIRST!!\n\nWhat you mean about returns on investments,I am not sure... banks do not handle and pay on brokerage accounts if that is what you are referring to..
17128
If you invest $14,600,000,000 in a savings account that pays 2.5% annual interest, compounded daily, you will have earned $1,000,000 in interest in one day.\nAlternatively, you could ask one million people for a dollar each, or 10 million people for a dime each, or 100 million people for a penny each.  Personally, I'd go with the penny.
139495
Let's define some variables for the equation.\n\nD = monthly deposit ($200)\nr = annual interest rate (10% is 0.1)\nn = compound frequency (12 months in a year)\nA = account balance\ni = compounded interest\n\nLet's start the account this month, or month 0.\n\nA(0) = D\n\nOne month later, you make another deposit and earn some interest. But you only earn 1/12 of the 10% with you existing balance, which is r/12.  \n\nA(1) = D + A(0) + i(1)\n\nwhere, i(1) = A(0) * r/n. Which makes\n\nA(1) = D + A(0) + A(0) * r/n , or\nA(1) = D + A(0) * (1 + r/n ), or\nA(1) = D + A(0)*R, if R = 1 + r/n, but A(0) is D, so\nA(1) = D + D*R\n\nTwo months later, you make another deposit and earn some interest on the balance A(1). Similarly calculating,\n\nA(2) = D + A(1) * R, or\nA(2) = D + (D + D*R) * R, or\nA(2) = D + D*R + D*R^2\n\nKeep on going to three months later, \n\nA(3) = D + A(2) * R, or\nA(3) = D + D*R + D*R^2 + D*R^3, or\nA(3) = D * (1 + R + R^2 + R^3)\n\nFollowing this pattern, k months later, we get\n\nA(k) = D * (1 + R + R^2 + ... + R^k)\n\nNow, let's calculate the general expression (1 + R + R^2 + ... + R^k) in a closed form.\n\nLet S = (1 + R + R^2 + ... + R^k). Multiply R on both sides, we get\nS*R = (1 + R + R^2 + ... + R^k) * R, or\nS*R = R + R^2 + ... + R^k + R^(k + 1)\n\nSubtracting the two equations S*R and S on both sides, we get\n\nS*R - S = R + R^2 + ... + R^k + R^(k + 1)  - (1 + R + R^2 + ... + R^k)\n\nNotice the terms R all the way through R^k on the right hand side are cancelled and only left with R^(k + 1) - 1. So we have,\n\nS*R - S = S(R - 1) = R^(k + 1) - 1\n\nDividing (R - 1) on both side, we get\n\nS = [R^(k + 1) - 1] / (R - 1)\n\nRewriting the account balance at month k,\n\nA(k) = D * (1 + R + R^2 + ... + R^k), or\nA(k) = D*S = D * [R^(k + 1) - 1] / (R - 1)\n\nNow, 26 years make 26 * 12 = 312 months. But since you start with 0, so your k is actually 311. R = 1 + r/n = 1 + 0.1/12, and D = 200. So\n\nA(311) = 200 * [(1 + 0.1/12)^(311 + 1) - 1] / (1 + 0.1/12 - 1), or\nA(311) = 295667.15330119169 = 295667.15 (round to nearest penny)