What is the equation to calculate interest accrued on an account?
Q. If we have a starting amount, length of time, and an interest rate, and know that the interest is compounded monthly, what is the equation to figure how much interest would be accrued after a certain amount of time?
Asked by laura_lou80 - Fri Jun 2 16:40:24 2006 - - 5 Answers - 0 Comments
A. Simple Interest = (Prime Money X Time (yrs) X Annual Interst Rate )/ 100 Now if you look for compound interest then it will be C.I = P (1 +R/100)^N P = Prime Money N = Time (year) R = Rate of interest (annual)
Answered by TJ - Fri Jun 16 07:05:52 2006
Q. If we have a starting amount, length of time, and an interest rate, and know that the interest is compounded monthly, what is the equation to figure how much interest would be accrued after a certain amount of time?
Asked by laura_lou80 - Fri Jun 2 16:40:24 2006 - - 5 Answers - 0 Comments
A. Simple Interest = (Prime Money X Time (yrs) X Annual Interst Rate )/ 100 Now if you look for compound interest then it will be C.I = P (1 +R/100)^N P = Prime Money N = Time (year) R = Rate of interest (annual)
Answered by TJ - Fri Jun 16 07:05:52 2006
How to deal with accrued expense in cashflow statement?
Q. How to deal with accrued expenses in cashflow statement? what is the presentation?
Asked by king - Mon Nov 12 09:16:02 2007 - - 1 Answers - 0 Comments
A. Accrued expenses, such as interest payable or tax payable mean that the expense has been incurred but has not yet been paid. They result in the increase of current liabilities. In the cash flow statement, the increase in current liabilities is added to net income to arrive at cash provided by operations.
Answered by Serge M - Mon Nov 12 09:23:27 2007
Q. How to deal with accrued expenses in cashflow statement? what is the presentation?
Asked by king - Mon Nov 12 09:16:02 2007 - - 1 Answers - 0 Comments
A. Accrued expenses, such as interest payable or tax payable mean that the expense has been incurred but has not yet been paid. They result in the increase of current liabilities. In the cash flow statement, the increase in current liabilities is added to net income to arrive at cash provided by operations.
Answered by Serge M - Mon Nov 12 09:23:27 2007
How to calculate accrued interest on Post office Recurring Deposit for IT purpose?
Q. In case of PO Recurring deposit accounts, the principal amount and the interest thereon is payable at the maturity only and the post offices neither have any ready reckoner , like NSCs, for calculation of accrued interest nor issue any certificate for such interest. How to work out accrued interest on RD deposits for showing it under item Income from other sources. If entire interest is to be shown in the year of actual receipt, instead of accrual basis, it may lead to heavy tax incidence at higher rate.
Asked by Gopal A - Tue Sep 9 06:55:34 2008 - - 3 Answers - 0 Comments
A. For an amount of Rs 100/- pm the annual interest would be about Rs 53/- After 5 years Rs 100/- p.m. becomes Rs. 7289/-.
Answered by HMT - Tue Sep 9 14:16:48 2008
Q. In case of PO Recurring deposit accounts, the principal amount and the interest thereon is payable at the maturity only and the post offices neither have any ready reckoner , like NSCs, for calculation of accrued interest nor issue any certificate for such interest. How to work out accrued interest on RD deposits for showing it under item Income from other sources. If entire interest is to be shown in the year of actual receipt, instead of accrual basis, it may lead to heavy tax incidence at higher rate.
Asked by Gopal A - Tue Sep 9 06:55:34 2008 - - 3 Answers - 0 Comments
A. For an amount of Rs 100/- pm the annual interest would be about Rs 53/- After 5 years Rs 100/- p.m. becomes Rs. 7289/-.
Answered by HMT - Tue Sep 9 14:16:48 2008
Can a solicitor take half the interest accrued on my inheritance?
Q. In June I turned 21 years of age and am expecting a sum of money from my great aunt who is now deceased. The solicitor has said that he will be taking half of the interest which has accrued in the savings account which was set up for me when I was 4 years old. The receptionist told my mother that it would take at least three weeks for them to recover the file from storage. I am using the money to fund a trip to Canada in September.
Asked by nick - Wed Jul 8 06:32:49 2009 - - 4 Answers - 0 Comments
A. I assume that the money has been held on trust for you and that the solicitor is a trustee. If so, he is entitled to charge the trust for his professional services, but he must account for his time in the normal way. He should also have been billing as he went along. He cannot simply deduct a percentage of interest - unless the original terms of the trust as created by your great aunt allowed for this. Solicitors fees can be high, but if the money has been sitting in a bank account he has not had much work to do since the account was opened. Ask to see his invoices and ask him to justify what he has done. Also ask to see the terms of the trust. If you are in any doubt your only course of action is to see another solicitor.
Answered by SimonC - Wed Jul 8 08:32:17 2009
Q. In June I turned 21 years of age and am expecting a sum of money from my great aunt who is now deceased. The solicitor has said that he will be taking half of the interest which has accrued in the savings account which was set up for me when I was 4 years old. The receptionist told my mother that it would take at least three weeks for them to recover the file from storage. I am using the money to fund a trip to Canada in September.
Asked by nick - Wed Jul 8 06:32:49 2009 - - 4 Answers - 0 Comments
A. I assume that the money has been held on trust for you and that the solicitor is a trustee. If so, he is entitled to charge the trust for his professional services, but he must account for his time in the normal way. He should also have been billing as he went along. He cannot simply deduct a percentage of interest - unless the original terms of the trust as created by your great aunt allowed for this. Solicitors fees can be high, but if the money has been sitting in a bank account he has not had much work to do since the account was opened. Ask to see his invoices and ask him to justify what he has done. Also ask to see the terms of the trust. If you are in any doubt your only course of action is to see another solicitor.
Answered by SimonC - Wed Jul 8 08:32:17 2009
May I include accrued interests in a proof of claim?
Q. I have a senior unsecured bond Lehman and I have to fill a proof of claim in order to get (part of) my money back. When declaring amount owed, may I include interests that should have been paid in the future? Or, at least, accrued interests?
Asked by CSR Man - Thu Oct 1 09:49:44 2009 - - 0 Answers - 0 Comments
A. Why not? If you don't claim it you won't get it. And if you do they can only reject that part of the claim.
Answered by raysor - Thu Oct 1 09:54:00 2009
Q. I have a senior unsecured bond Lehman and I have to fill a proof of claim in order to get (part of) my money back. When declaring amount owed, may I include interests that should have been paid in the future? Or, at least, accrued interests?
Asked by CSR Man - Thu Oct 1 09:49:44 2009 - - 0 Answers - 0 Comments
A. Why not? If you don't claim it you won't get it. And if you do they can only reject that part of the claim.
Answered by raysor - Thu Oct 1 09:54:00 2009
How to find the accrued interest in this finance problem?
Q. What is the accrued interest on a 5%-coupon, $1,000-par T bond, which last paid interest 20 days ago, and with a total of 183 days in the 6-month period?
Asked by Gina C - Tue Apr 28 10:52:09 2009 - - 2 Answers - 0 Comments
A. @ what moment in time? If you assume today, then it's 20 days worth, ((($1,000 X .05)/2)/365) X 20
Answered by botygy - Tue Apr 28 11:00:10 2009
Q. What is the accrued interest on a 5%-coupon, $1,000-par T bond, which last paid interest 20 days ago, and with a total of 183 days in the 6-month period?
Asked by Gina C - Tue Apr 28 10:52:09 2009 - - 2 Answers - 0 Comments
A. @ what moment in time? If you assume today, then it's 20 days worth, ((($1,000 X .05)/2)/365) X 20
Answered by botygy - Tue Apr 28 11:00:10 2009
the usual adjusting entry for accrued salaries owed to employees was omitted. Which is true?
Q. At the end of the fiscal year, the usual adjusting entry for accrued salaries owed to employees was omitted. Which of the following statements is true? a) Salary Expense for the year is overstated. b) Liabilities at the end of the year are understated. c) Assets at the end of the year are understated. d) Stockholders equity at the end of the year is understated.
Asked by ao84 - Tue Aug 4 20:25:26 2009 - - 1 Answers - 0 Comments
A. b) Liabilities at the end of the year are understated.
Answered by buz - Tue Aug 4 20:35:15 2009
Q. At the end of the fiscal year, the usual adjusting entry for accrued salaries owed to employees was omitted. Which of the following statements is true? a) Salary Expense for the year is overstated. b) Liabilities at the end of the year are understated. c) Assets at the end of the year are understated. d) Stockholders equity at the end of the year is understated.
Asked by ao84 - Tue Aug 4 20:25:26 2009 - - 1 Answers - 0 Comments
A. b) Liabilities at the end of the year are understated.
Answered by buz - Tue Aug 4 20:35:15 2009
Am I entitled to the equity accrued while purchasing a home on land contract for the last six years?
Q. Purchased home 6 yrs. ago and the land contract period is ending. I am not able to acquire a mortgage on this property now that balloon payment is due. I got behind on payments to the land contract holder since May, couldn't pay the taxes for 2005 and was unable to pay the insurance. The land contract holders have paid all the above for me. I currently have a renter in the home and he has paid his rent timely, but I've used his monthly rent to catch up on my own bills that I've fallen behind on since loss of employment. Am I entitled to counter sue the land contract holders for the equity I accrued while paying this contract for the last 5.5 years?
Asked by Tammy S - Sat Sep 30 10:49:07 2006 - - 2 Answers - 0 Comments
A. Of course, it all depends on how your contract reads, but probably not. There are typically two views of how land contracts work, and what view applies depends on the law of the state in which the property is located. The first view is that the land contract is just that - a contract. In order for you to acquire title to the land, you must satisfy the terms and conditions of the contract. In this case, you have only partially performed, are probably in default (because you have missed monthly payments and the payment of taxes), and in any event are about to default because you will not be able to make the balloon payment. Your default will trigger the right of the seller/land owner to treminate your contract, and in any event, you… [cont.]
Answered by TarDane - Sat Sep 30 11:22:46 2006
Q. Purchased home 6 yrs. ago and the land contract period is ending. I am not able to acquire a mortgage on this property now that balloon payment is due. I got behind on payments to the land contract holder since May, couldn't pay the taxes for 2005 and was unable to pay the insurance. The land contract holders have paid all the above for me. I currently have a renter in the home and he has paid his rent timely, but I've used his monthly rent to catch up on my own bills that I've fallen behind on since loss of employment. Am I entitled to counter sue the land contract holders for the equity I accrued while paying this contract for the last 5.5 years?
Asked by Tammy S - Sat Sep 30 10:49:07 2006 - - 2 Answers - 0 Comments
A. Of course, it all depends on how your contract reads, but probably not. There are typically two views of how land contracts work, and what view applies depends on the law of the state in which the property is located. The first view is that the land contract is just that - a contract. In order for you to acquire title to the land, you must satisfy the terms and conditions of the contract. In this case, you have only partially performed, are probably in default (because you have missed monthly payments and the payment of taxes), and in any event are about to default because you will not be able to make the balloon payment. Your default will trigger the right of the seller/land owner to treminate your contract, and in any event, you… [cont.]
Answered by TarDane - Sat Sep 30 11:22:46 2006
Does a seller of preferred stock retain accrued but unpaid dividends after the sale. What is the policy?
Q. The individual owns approximately 60 percent of preferred stock in a company and he wishes to sell it or give it to a charity. However, he is entitled at the moment to dividends that have been accrued but unpaid. If he sells this stock does he retain the right to cash in on the unpaid dividend?
Asked by Andy Rew - Fri Jul 14 17:36:27 2006 - - 2 Answers - 0 Comments
A. The buyer is entitled to dividends only if the related shares have been bought 'cumdividend' or cumdiv (i.e. with rights to the current dividend). Accrued implies that the shares no longer carry with them the entitlement to current dividends as the seller has retained that entitlement by making the sale only after the ex-div date has passed. The ex-div date is the date at which cumdiv shares become ex-div and is set by the company. Ex-dividend shares don t carry the entitlement to the current dividends, hence the ex in ex-div . In share transfers for non-listed/private companies, probably the case with your acquaintance, dividend rights are likely to be negotiated on a transaction by transaction basis because the average private… [cont.]
Answered by Good Lawd - Fri Jul 14 19:46:23 2006
Q. The individual owns approximately 60 percent of preferred stock in a company and he wishes to sell it or give it to a charity. However, he is entitled at the moment to dividends that have been accrued but unpaid. If he sells this stock does he retain the right to cash in on the unpaid dividend?
Asked by Andy Rew - Fri Jul 14 17:36:27 2006 - - 2 Answers - 0 Comments
A. The buyer is entitled to dividends only if the related shares have been bought 'cumdividend' or cumdiv (i.e. with rights to the current dividend). Accrued implies that the shares no longer carry with them the entitlement to current dividends as the seller has retained that entitlement by making the sale only after the ex-div date has passed. The ex-div date is the date at which cumdiv shares become ex-div and is set by the company. Ex-dividend shares don t carry the entitlement to the current dividends, hence the ex in ex-div . In share transfers for non-listed/private companies, probably the case with your acquaintance, dividend rights are likely to be negotiated on a transaction by transaction basis because the average private… [cont.]
Answered by Good Lawd - Fri Jul 14 19:46:23 2006
How do I do this accrued accounting journal entry?
Q. This transaction takes place on January 31st 2008. Hypothetically, the entry is due December 31st 2008 with the rest of the journal entries. The course I am taking uses the accrued accounting method. "Albert rented a building for 4500 per month on a seven year rental contract. Rent is due on the 1st of every month beginning on February 1st."
Asked by Ross - Wed Oct 21 17:44:16 2009 - - 1 Answers - 0 Comments
A. Probably nothing needed at December 31. Rent is generally paid on the 1st of the month for that month not for the previous month. In other words, you're paying in advance. It sort of makes sense since you're saying he entered into a lease on January 31st. If you first pay the rent on Feb 1 (the next day), then how could you be paying for the prior month? The 7 year contract does not require a journal entry but needs to be disclosed in the footnotes to the financial statements as a committment, but I don't think that's what you're getting at.
Answered by unknown - Sat Oct 24 21:21:05 2009
Q. This transaction takes place on January 31st 2008. Hypothetically, the entry is due December 31st 2008 with the rest of the journal entries. The course I am taking uses the accrued accounting method. "Albert rented a building for 4500 per month on a seven year rental contract. Rent is due on the 1st of every month beginning on February 1st."
Asked by Ross - Wed Oct 21 17:44:16 2009 - - 1 Answers - 0 Comments
A. Probably nothing needed at December 31. Rent is generally paid on the 1st of the month for that month not for the previous month. In other words, you're paying in advance. It sort of makes sense since you're saying he entered into a lease on January 31st. If you first pay the rent on Feb 1 (the next day), then how could you be paying for the prior month? The 7 year contract does not require a journal entry but needs to be disclosed in the footnotes to the financial statements as a committment, but I don't think that's what you're getting at.
Answered by unknown - Sat Oct 24 21:21:05 2009
Why would cash-rich Google have accrued expenses and account payables?
Q. With its abundance in cash, I'm curious why Google would have those liabilities (accrued expenses and account payables). What would be the business strategy for doing that? Couldn't they just use their cash and pay everything upfront so they don't accrue those liabilties?
Asked by mike1964 - Sun Aug 31 05:08:51 2008 - - 1 Answers - 0 Comments
A. Corporations that are in the growth phase of their business development--as Google happens to be in-- must have large amounts of cash for timely acquisitions and joint ventures ( like a Yahoo, or DoubleClick situation). Paying down liabilities too aggressivly may put them in a position where they might have to refinace to raise capital at terms less friendly than they presently enjoy and or where they might lose out on a trimely opportunity. In today's credit environment, this could be huge.
Answered by Joseph S - Sun Aug 31 05:46:17 2008
Q. With its abundance in cash, I'm curious why Google would have those liabilities (accrued expenses and account payables). What would be the business strategy for doing that? Couldn't they just use their cash and pay everything upfront so they don't accrue those liabilties?
Asked by mike1964 - Sun Aug 31 05:08:51 2008 - - 1 Answers - 0 Comments
A. Corporations that are in the growth phase of their business development--as Google happens to be in-- must have large amounts of cash for timely acquisitions and joint ventures ( like a Yahoo, or DoubleClick situation). Paying down liabilities too aggressivly may put them in a position where they might have to refinace to raise capital at terms less friendly than they presently enjoy and or where they might lose out on a trimely opportunity. In today's credit environment, this could be huge.
Answered by Joseph S - Sun Aug 31 05:46:17 2008
How are accrued airmiles converted to actual available flight miles?
Q. Some credit cards offer 10,000 free airmiles. Big Deal. How far will that get you? How many airmiles do you need to go, say, from Dallas to LA?
Asked by Okiemac - Sat Sep 16 22:51:45 2006 - - 2 Answers - 0 Comments
A. A domestic coach ticket will cost you about 25,000 FF miles.
Answered by Bostonian In MO - Sun Sep 17 00:15:00 2006
Q. Some credit cards offer 10,000 free airmiles. Big Deal. How far will that get you? How many airmiles do you need to go, say, from Dallas to LA?
Asked by Okiemac - Sat Sep 16 22:51:45 2006 - - 2 Answers - 0 Comments
A. A domestic coach ticket will cost you about 25,000 FF miles.
Answered by Bostonian In MO - Sun Sep 17 00:15:00 2006
I have bad credit which accrued around the time I was 18. What are my options on buying a home?
Q. I have already weighed out all the pro's and con's and desperately want this house. I'm in love w/it and it is priced low to sell quickly--the owner is a family friend. I have 3 years of great rent history and I'm tired of throwing $ away that is not going into something of value (such as a house). What will the bank say to me and what are the chances of doing a land contract?
Asked by PlasticTrees - Mon Aug 7 21:42:16 2006 - - 5 Answers - 0 Comments
A. You can get financed, it's just that you might need a more sizeable down payment. If your credit score is below, say 640, you will also end up with a higher rate. If it's below 500, you probably won't get financed at all. Try using a mortgage company (ie: mortgage broker) because they will have multiple lending sources, whereas a bank has only their own products. But, it will really depend on what's showing on your credit report. Keep in mind that past credit problems (ie: paid off bad debts) are one thing, and current credit problems (current outstanding debts) are another. If there are accounts being reported that show outstanding balances, you need to get them cleared up somehow. For staters, try writing to the credit bureaus… [cont.]
Answered by Me-as-a-Tree - Tue Aug 8 00:19:11 2006
Q. I have already weighed out all the pro's and con's and desperately want this house. I'm in love w/it and it is priced low to sell quickly--the owner is a family friend. I have 3 years of great rent history and I'm tired of throwing $ away that is not going into something of value (such as a house). What will the bank say to me and what are the chances of doing a land contract?
Asked by PlasticTrees - Mon Aug 7 21:42:16 2006 - - 5 Answers - 0 Comments
A. You can get financed, it's just that you might need a more sizeable down payment. If your credit score is below, say 640, you will also end up with a higher rate. If it's below 500, you probably won't get financed at all. Try using a mortgage company (ie: mortgage broker) because they will have multiple lending sources, whereas a bank has only their own products. But, it will really depend on what's showing on your credit report. Keep in mind that past credit problems (ie: paid off bad debts) are one thing, and current credit problems (current outstanding debts) are another. If there are accounts being reported that show outstanding balances, you need to get them cleared up somehow. For staters, try writing to the credit bureaus… [cont.]
Answered by Me-as-a-Tree - Tue Aug 8 00:19:11 2006
When are the interest rates of a parent PLUS loan start to be accrued?
Q. Same question goes to Direct, Subsidized loans. And what does it mean that the Department of Education will pay the interest for the direct subsidized loan?
Asked by sniperdogruffo - Tue Apr 1 18:42:34 2008 - - 1 Answers - 0 Comments
A. The interest on PLUS loans begins accruing as soon as the loan disburses. Payments begin 45 days after full disbursement. If you enroll fall/winter, then the PLUS will enter repayment in March. The PLUS is still the best loan option available to assist with student college expenses when scholarships, grants and student loans are not enough. The interest on subsidized loans is paid by the federal government as long as the student remains enrolled at least half-time. Once the student is no longer enrolled at least half time, interest begins accruing and payments on student loans begin six months later (9 months on Perkins loans). You will receive information about the difference between subsidized and unsubsidized loans when you do… [cont.]
Answered by Jdub - Tue Apr 1 20:11:50 2008
Q. Same question goes to Direct, Subsidized loans. And what does it mean that the Department of Education will pay the interest for the direct subsidized loan?
Asked by sniperdogruffo - Tue Apr 1 18:42:34 2008 - - 1 Answers - 0 Comments
A. The interest on PLUS loans begins accruing as soon as the loan disburses. Payments begin 45 days after full disbursement. If you enroll fall/winter, then the PLUS will enter repayment in March. The PLUS is still the best loan option available to assist with student college expenses when scholarships, grants and student loans are not enough. The interest on subsidized loans is paid by the federal government as long as the student remains enrolled at least half-time. Once the student is no longer enrolled at least half time, interest begins accruing and payments on student loans begin six months later (9 months on Perkins loans). You will receive information about the difference between subsidized and unsubsidized loans when you do… [cont.]
Answered by Jdub - Tue Apr 1 20:11:50 2008
What costs are accrued when buying a house?
Q. Hypothetical, you pay 100k cash for a house from a realtor. What other costs are there? Do you have to pay taxes right away, pay the realtor anything from the pocket etc?
Asked by fakeflowers - Mon Aug 6 20:48:51 2007 - - 6 Answers - 0 Comments
A. If you re paying cash (it's not always wise to pay cash, the lenders can dig up potential problems you may in a thousand years never come up with on your own. Also some IRS benefits to loan acquisition vs. cash) get a title policy (No exceptions) usually paid by the seller. Your cost: (cash closing) 1 - 1.5% Recording, $25-35 dollars. Prepaid one year hazard insurance $400-$1,000. Proration of property tax (depends on the month and when taxes are due in your area $500.00 Closing agent $125 - $350.00 Home inspection $300.00 Condo/H.O.A. association fees?
Answered by Willems_grandpa - Mon Aug 6 21:28:04 2007
Q. Hypothetical, you pay 100k cash for a house from a realtor. What other costs are there? Do you have to pay taxes right away, pay the realtor anything from the pocket etc?
Asked by fakeflowers - Mon Aug 6 20:48:51 2007 - - 6 Answers - 0 Comments
A. If you re paying cash (it's not always wise to pay cash, the lenders can dig up potential problems you may in a thousand years never come up with on your own. Also some IRS benefits to loan acquisition vs. cash) get a title policy (No exceptions) usually paid by the seller. Your cost: (cash closing) 1 - 1.5% Recording, $25-35 dollars. Prepaid one year hazard insurance $400-$1,000. Proration of property tax (depends on the month and when taxes are due in your area $500.00 Closing agent $125 - $350.00 Home inspection $300.00 Condo/H.O.A. association fees?
Answered by Willems_grandpa - Mon Aug 6 21:28:04 2007
can someone explain to me how a saving account interest is accrued. supply the formula to equate please.?
Q. Im interested in starting an online savings acct. and the interest is 2.79% which is said to be accrued monthly. Is the balance multiplied by the rate and that's the interest applied. im not a mathlete.
Asked by J - Fri Feb 20 06:55:41 2009 - - 2 Answers - 0 Comments
A. It would be best answered in the "fine print" of your account, but most accounts that accrue interest monthly do so this way: Average the balance over the month, then multiply by the interest rate. For instance, if you had $100 in the bank for 15 days, then deposited another $100 giving you $200 for 15 days your average would be: 100 * 15 + 200 * 15 = 4500 divide by 30 days = $150 average Then multiply by your interest rate: $150 * .0279 = $4.185 which is a fraction of a penny above $4.18. Most banks will round up the penny, but ymmv.
Answered by Richard U - Fri Feb 20 07:09:08 2009
Q. Im interested in starting an online savings acct. and the interest is 2.79% which is said to be accrued monthly. Is the balance multiplied by the rate and that's the interest applied. im not a mathlete.
Asked by J - Fri Feb 20 06:55:41 2009 - - 2 Answers - 0 Comments
A. It would be best answered in the "fine print" of your account, but most accounts that accrue interest monthly do so this way: Average the balance over the month, then multiply by the interest rate. For instance, if you had $100 in the bank for 15 days, then deposited another $100 giving you $200 for 15 days your average would be: 100 * 15 + 200 * 15 = 4500 divide by 30 days = $150 average Then multiply by your interest rate: $150 * .0279 = $4.185 which is a fraction of a penny above $4.18. Most banks will round up the penny, but ymmv.
Answered by Richard U - Fri Feb 20 07:09:08 2009
If I pay minimum balance on my credit card, can interest accrued cause me to max out?
Q. I have a credit card with a low interest rate (below 6%), but I am carrying a high balance (6500 with credit of 6800). If I pay the minimum each month, is it possible that the interest accrued on the balance can cause me to max the card out? I am able to pay the minimum but am not in a position to pay over right now :(
Asked by scrappysmom186 - Wed May 7 20:27:42 2008 - - 2 Answers - 0 Comments
A. No it will not cause you to max out. Typically, the minimum payment the company specifies ensures that you will not go over with interest accrual.
Answered by zanodad - Wed May 7 20:40:27 2008
Q. I have a credit card with a low interest rate (below 6%), but I am carrying a high balance (6500 with credit of 6800). If I pay the minimum each month, is it possible that the interest accrued on the balance can cause me to max the card out? I am able to pay the minimum but am not in a position to pay over right now :(
Asked by scrappysmom186 - Wed May 7 20:27:42 2008 - - 2 Answers - 0 Comments
A. No it will not cause you to max out. Typically, the minimum payment the company specifies ensures that you will not go over with interest accrual.
Answered by zanodad - Wed May 7 20:40:27 2008
Can a person lose accrued rewards points by transferring a balance to another card?
Q. Hey got one of those lovely letters from my credit card company that says my fixed intrest rate is changing to a higher variable interest rate (for no reason other than "market conditions"). My choice is to accept the change or pay off the balance and close the card. I still have rewards points. Do I need to "cash" those out before switching the balance?
Asked by Pluckiducki - Fri Aug 14 10:16:01 2009 - - 3 Answers - 0 Comments
A. Of course your best bet is to contact the credit card company yourself and ask what the conditions are, but I do know that I have played the balance transfer game often in order to maintain the best deals and have not lost any banked rewards points due to having a zero balance. Now if you close the account (or they decide to close it for you, either due to non-use or other reasons) you may well lose the points. But for having a zero balance? Can't imagine them being able to do that. Anyway, here is an excellent website on all things credit related that you can use as a source for questions on credit, free info: Best of luck to you!
Answered by travelbum - Fri Aug 14 11:08:37 2009
Q. Hey got one of those lovely letters from my credit card company that says my fixed intrest rate is changing to a higher variable interest rate (for no reason other than "market conditions"). My choice is to accept the change or pay off the balance and close the card. I still have rewards points. Do I need to "cash" those out before switching the balance?
Asked by Pluckiducki - Fri Aug 14 10:16:01 2009 - - 3 Answers - 0 Comments
A. Of course your best bet is to contact the credit card company yourself and ask what the conditions are, but I do know that I have played the balance transfer game often in order to maintain the best deals and have not lost any banked rewards points due to having a zero balance. Now if you close the account (or they decide to close it for you, either due to non-use or other reasons) you may well lose the points. But for having a zero balance? Can't imagine them being able to do that. Anyway, here is an excellent website on all things credit related that you can use as a source for questions on credit, free info: Best of luck to you!
Answered by travelbum - Fri Aug 14 11:08:37 2009
How do I get the penalty charge of all interest accrued removed?
Q. I purchased a TV from Circuit City at 0% interest in September of 2007. It was almost paid off when I missed a payment. They since have sent me a bill for all the interest amounting to about $500.00. I have great credit and have never missed a payment before. How do I get this fixed? The people at Chase are not helping me out. They want all that money.
Asked by Raider68 - Mon Mar 23 20:23:33 2009 - - 1 Answers - 0 Comments
A. You DON'T get them removed. You signed up to pay the penalty AND the interest if you had not paid the FULL amount ON TIME. This is why the offer these plans. When 1 person misses a payment, they make up for 10 people that pay on time.
Answered by STEVEN F - Mon Mar 23 20:52:02 2009
Q. I purchased a TV from Circuit City at 0% interest in September of 2007. It was almost paid off when I missed a payment. They since have sent me a bill for all the interest amounting to about $500.00. I have great credit and have never missed a payment before. How do I get this fixed? The people at Chase are not helping me out. They want all that money.
Asked by Raider68 - Mon Mar 23 20:23:33 2009 - - 1 Answers - 0 Comments
A. You DON'T get them removed. You signed up to pay the penalty AND the interest if you had not paid the FULL amount ON TIME. This is why the offer these plans. When 1 person misses a payment, they make up for 10 people that pay on time.
Answered by STEVEN F - Mon Mar 23 20:52:02 2009
What is the difference between accounts payable and accrued expenses?
Q. What is the difference between accounts payable and accrued expenses?
Asked by colin b - Sun Oct 29 13:52:13 2006 - - 5 Answers - 0 Comments
A. accounts payable - amounts you have been billed and you still owe accrued expenses - amounts you have not been billed for but you expect. both are payables in the balance sheet.
Answered by bw_r005t3r - Sun Oct 29 14:17:56 2006
Q. What is the difference between accounts payable and accrued expenses?
Asked by colin b - Sun Oct 29 13:52:13 2006 - - 5 Answers - 0 Comments
A. accounts payable - amounts you have been billed and you still owe accrued expenses - amounts you have not been billed for but you expect. both are payables in the balance sheet.
Answered by bw_r005t3r - Sun Oct 29 14:17:56 2006
From Yahoo Answer Search: 'accrued'
Sun Nov 22 23:35:24 2009 [ refresh local cache ]
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bankwide.com
unknown
2008-09-22 14:28:00
implementation of its business model. the company has fulfilled all of its obligations in connection with the payment of officers' salaries as . accrued. debt. salaries will no longer be . accrued. as debt and are now being paid weekly. . ...
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