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Questions tagged [interest]

for questions that relate to interest. Interest is a fee paid by a borrower of assets to the owner as a form of compensation for the use of the assets.

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Tax system on savings account in India

I would like to know if the money in the bank is taxable. Let's say I have deposited some x amount in my savings account and the yearly interest is y amount. I know that this y amount is taxable, but ...
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0answers
74 views

Write off accrued interest from interest income

My mother purchased a US government bond maturing 2019/04/15. The purchase date was 2018/04/13, so there were 2 interest payments attributed to 2018 (2018/04/15 and 2018/10/15), but the interest ...
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0answers
78 views

allocation of payment between principal and interest

Individual made a (second) mortgage loan to another. The loan has been in default for many years. The bank (first mortgage holder) foreclosed on the property. The individual lender received a ...
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0answers
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Why does total interest paid per year increase as I pay down my loan (fixed rate loan)

I have a house loan at a 4.25% fixed APR rate with CitiMortgage. Comparing the total amount of interest I've paid recently, per Citibank's statement I paid $6684 in interest during year one of the ...
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0answers
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Computing risk-neutral probability of spot rates

I am trying to use a binomial model to price options wtih bonds as the underlying security.If the current term structure is flat at 6%, but next year, I assume the one-year spot rate will be either 5% ...
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0answers
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After checking a tax audit, Massachusetts is owing me some money: what interest should I claim?

I got audited by the state of Massachusetts, USA, due to a mistake I did when filing my 2015 Form 1 (mirror). The audit's conclusion was that I have to pay some amount to Massachusetts, which includes ...
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0answers
67 views

Lending club investments through a numbered company for favorable tax?

I'm part of a lending club in Canada that has just allowed corporate lending. My marginal tax bracket in Canada is 26%, so I'm trying to figure out if there is an advantage to lending through a ...
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0answers
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Interest expense deduction on rental property that was re-financed to pay off wife for her interest in home

I am in California in the United States. I stated renting my house out this year (2017). I originally purchased the home with my ex-wife in 2001, but bought her interest in the property as part of ...
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Investment or saving options Northern Europe

I am interested in basic financial advice for my current situation. I am mid twenties, living in Northern Europe and have gathered some savings over the years. Currently living in a rented apartment, ...
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0answers
51 views

Add-On CD Formula

I'm starting to learn a lot about finance/investing on my own but I'm struggling with the calculations behind Add-On CDs. I opened an 14-Month Add-On CD with a $1000 deposit with a monthly $30 add-on ...
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0answers
171 views

How to calculate interest charged on my loan given a series of dates & payments?

I want to calculate the interest rate payed for this loan using Mathematica. The initial amount was of 12000€, then they asked to pay 240€ for opening the loan and another 870€ for the insurance for ...
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I am being offered whole life insurance with a savings account. Should I take it?

I am being offered a savings account with a Whole life Insurance policy. I believe it is 100,000 policy for $30 a month. However, half of this goes to a savings account with a 4% "compound interest."...
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How is interest rate calculated for a floating mortgage

I am trying to calculate the amount of interest I need to pay for a mortgage that just turned from fixed to floating. Current balance is: -550,000 Interest rate: 5.95% Original term: 30 years The ...
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Is there any way to compare a tracker's interest with an average fixed rate?

I have been paying into a tax free index tracking account for a number of years, the amounts were only occasionally regular and varying in size. I haven't withdrawn anything. I have exported data ...