Banking

APY (Annual Percentage Yield) is a compound interest rate owned on a deposit over one year. It accounts the interest earned on principal as well as interest earned on other earnings and is referenced as the effective annual rate in finance.Annual Percentage Yield assumes that all the funds will … Read More about Annual Percentage Yield Formula

A loan payment is required monthly payment for a loan. By definition, loan is the amount of money (or sometimes other goods) given to a borrower in exchange for consistent future payments, which usually consist of principal (original sum of borrowed money), interest and sometimes other additional … Read More about Loan Payment Formula

Compound Interest Formula, is a numerical method to calculate the interest paid or interest received against a certain amount of capital borrowed or deposit for a defined interval of time at a specific rate of interest.The special thing about compound interest is that it is always applied on the … Read More about Compounding Interest Formula

Simple Interest Formula is a mathematical method to calculate the interest paid or interest received at a certain rate against a specific amount of capital borrowed or deposit for a specified interval of time, as a result of a financial transaction.As we know, the amount of money would increase … Read More about Simple Interest Formula

What Is Continuous Compound Interest?To understand what Continuous Compound Interest is, first, we need to understand what Compound Interest is.Compound Interest is interest on interest. In other words, it’s the amount of interest earned on the investment where the amount earned is … Read More about Continuous Compounding Formula