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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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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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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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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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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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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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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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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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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 ...
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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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What is the proper name for the formula which calculates interest for the account with the variable funds amount during the billing period?

Let's assume we have an investment fund with holders, who may transfer funds from this fund between each other. We can track how much funds each holder has on his account at any moment. There is some ...