If you have $1 million dollars contained by one US wall acct, what is the interest earn after one year?
Question:
Using current rates what is the interest earned after one year?
Do you settle up taxes on money earned via interest?
Also, will majority banks hold that much money contained by one account?
Answers:
You will earn interest $ 52,500 for one year on one million dollar deposit.
You own to pay states taxes on the interests earn.
All banks accept $ 1 million dollars deposit. This is not a big money in the eyes of bank.
you could earn $54,000
It wouldn't be wise to hold $1 million in one description.
You would need separate accounts next to a maximum of $100,000 in respectively account to be FDIC insured.
There are ways to do this. You will own to pay income excise unless it is in import tax sheltered accounts.
It depends on how the interest is compounded, but at 3% compounded daily it would be something close to $30,000 the first month. The second month would be based on $1,030,000, for $30,900 interest.
Yes, you foot income tax on the interest you earn. The amount of income rates you pay depends on how much total money you take home in the year. The more you generate the higher your due bracket and the more income tax you pay envelope.
Last question.I don't know.
Current compact disc rates (Certificate of Deposit) at banks average almost 5.15% for a 12 month term. The interest earn would be $51,500. American citizens would add the interest income to their other income and wages federal income taxes dependent on their total income, dependents, filing status, itemized or standard supposition, etc. US tax rates are progressive...10% for the first $X, 15% for the subsequent $Y, 25% for the next $Z and so on up to 35%. Some states, but not adjectives, also require that you pay state income toll.
Bank accounts are insured by the Federal Deposit Insurance Corporation (FDIC) up to $100,000. Hopwever, the chance of a guard failure is legally remote and almost non-existent with chief banks.
There is NO SUCH THING as the current rate for deposits that immense. Anywhere near 10% of that amount and you would negotiate a rate beside the financial institution. Any bank will adopt as much as you are willing to deposit. You sketch is only Federally insured up to $100,000 per institution.
Yes, interest is taxable income within the US.
If You have 8mill. and you have two masarati mc12 and a 2 million dollar manshion what would you buy?
Question:
What kind of things would you do beside the rest of the money.
This is the answer I want. COMPLETE SENTECES.
Answers:
I know I will never see that kind of lolly, but if I did have it I would use it for some break time some where within US or overseas maybe near my girlfriend that would be nice.
I'll write complete sentences when you correct your spelling. Use the spell-check feature.
I wouldnt buy anything but simply invest and live bad the interest : )
well self go buy a Bugatti veyron, vend the 2 mc's, go find me a yacht and riddle it with some hoes.....
Can i use a cd rationalization as a regular stash report surrounded by that, so long as i dont move about lower than the principal amount within
Question:
the contract say similar to $10,000. anything on top of that, can i repeal anytime and as often as i want, and can i deposit as much as i want anytime into it, hence using it as a stash account to deposit and repeal as i feel close to so long as i dont touch the primary amount $10,000 ?
Answers:
But take into sketch if you have an serious emergency and have need of more than your available amount above the $10K then what would you do?
Its a great concept to have a disc account but accept in mind its for long occupancy use and not for constant withdrawal. But the interest rates on disc accounts are great as well.
Good luck.
I feel you are getting a cd confused with a money souk account
Adventure have a point. I took my cd's and when I needed them to buy a car. basically borrowed against them instead of cashing them in. I get a lower interest rate and when the loan is paid I still enjoy my money
No, you can't. You purchase a CD at a precise price, and must hold it until it matures, or you foot penalties. You can't put in to it or withdraw from it.
Are here legally recognized on smudge job on row in need start up money?
Question:
Answers:
Depending on what you mean by 'online job', if you're asking something like the email scams, next no. Those job offer literally sucker you out of thousands of dollars and then up and fade out. It's advised that you any find a way of reporting the IP and email address and stopping the scam, or just delete and block them.
I'm sure, though, that you can find some online job that don't require start up money and are perfectly permissible, though most likely they would be along the lines of net page design or upkeep, or possibly column writing or things of that sort.
I sure can't find them. They always want money. If I have more of that, I wouldn't be looking for a job! Good luck!
no
most any one that requires you to compensate something is a scam... avoid those.
Many people are making a living by selling products on e-Bay. You can start next to stuff you find around the house that you no longer need. You will want some minimal amount of money to place your e-Bay ad, but you will fast recover it. There are also companies that will ship products that you hype on e-Bay -- you don't need to settle in mortgage. For basic instructions, try "Starting an eBay Business for Dummies" by Marsha Collier.
There are no legit Get-Rich-Quick scheme, if that is what you're asking.
But if you want to invest your time at terrifically little cost, read about "Site Build It!" Click this relation : http://magic.sitesell.com/john492.html...
Your looking fo something thats not out there of late like the rest of the posters enjoy said.
I don't totaly agree with everything because they are not adjectives scams.
-Yes you do own to pay surrounded by the begining but you should make it hindmost pretty quick.
-No you can't draw from rich quick
-In writ to see the gains you want you call for to put some time and effort into it lately like any other business.
Thats essentially what you need to know.
You can check out the website I use and after either email or beckon me with any question. I'm sure you'll have some.
Oh yeah and my best counsel is just research and look at adjectives the options available to you and later make your verdict.
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Hope this helped you for a time.
Seriously Need APR Calculation Help!! :(?
Question:
I have four loans on my home (see numbers and expressions below.) I am trying to determine the TRUE APR of the 4 total. I am considering a refinance and need to know if I am positive or losing money by doing so. Please help!
TOTAL OWED
(1) $15,000 APR 7.90%
(2) $15,000 APR 24.24%
(3) $85,202 Int Rate 5.75%
(4)$121,441 Int Rate 9.49%
Answers:
I comprehend what you are trying to do, but you are asking the wrong question. There's no such article as a "true APR." The credit cards are revolving unsecured loans, whereas the home loans are secured and have a set stipend schedule.
Your cross-examine should be "should I do this and why?" It's easy to bring in this more complicated than it needs to be. What you should look at is the APR of 7.1% for the refinance. Consider this. Don't surmise about the math, merely follow me. Your 5.75% and 9.49% are *roughly* 1.5% below and above your "refi" APR, respectively. The lower one cancels out $85k of the sophisticated one, and that leaves you $35k at a rate higher than 7.1%. Also you own $15k at 24.24%. Don't worry roughly the other $15k, the rate is too similar to your refi rate.
My point is, you'll save a ton on the 24.24%, and a surrounding substance amount on the 9.49%. You'll have to pay envelope a bit higher APR on your 5.75% loan, but the stash on the two higher ones clearly offset that. Plus you only hold to deal next to one loan instead of four, and secured debt is much better to have than unsecured.
I know, I know... the home loans are for xx years and the credit cards can be salaried in xx months at $xxx per month... Don't verbs about adjectives that; just do it - you'll thank me next. Try to stay out of credit card debt. Your total monthly loan payments will be lower, and if you feel comfortable near it, you can use the extra $$ from your lower payments to pay down your principal and let go even more :)
You are mixing apples and oranges above.
your APR no longer matters on (1) and (2)
APR includes the fees that you be charged to get those loans.
It is presently in your harmonize.
What are your interest rates on them ? NOT APR.
Your blended rate above is 8.96%, but it isn't exact.
Where are you located ?
7.10% doesn't sound resembling a low APR. Are you being offered a "no cost" loan ??
If #4 above is a 2nd, you may be better rotten just refinancing the 2nd.. 36% of your debt is at 5.75%
What is your home worth ? Are you going full doc or stated ?
What length of loan are you human being offered ??
Insufficient funds?
Question:
why does the bank charge you for a check that comes pay for insuffient funds if it's deposited into your account?
Answers:
Because nearby are charges the bank incurs when a check is returned...so they leave behind the charge on to you. This is why when you write an NSF check to a store they can charge you a fee, because they get charged one. I suggest you go to the personage who wrote you the check and tell them they owe you that amount plus the amount of the tax you incured...in lolly!
Becuase they cover the expense until you get money surrounded by the account to cover it and the extra work of handling the transaction. Think of it as something appendage made compared to something mass produced.
My bank have a 500 dollar overdraft protection account. If we write a check and it bounces the ridge charges us 28.00 to pay for the amount of the check. This is to keep hold of is from HAVING an actual insufficient check. Even though the bank still call it that because technically it IS insufficient funds, but they will still allow the check to go through and reimburse whomever we wrote the check to. Basically, we owe the bank 28.00 for their time.it's similar to interest on a credit card. "We'll let you use our money, but you enjoy to pay us x amount surrounded by addition to the amount you needed."
what do you mean ...what exactly do you meditate is "deposited" into your account?
a NSF technique there is no money within your account and they charge anywhere from $25 to $35 or more respectively time and usually they hit you TWO times before you can even catch the first notice. Then that's reported to the credit bureau and next you not only hold to pay it hindmost but you have to clear up your credit bureau reports, and you may even lose your checking reason.
The bank charges you that payment cause you enjoy caused them the trouble of have to put it thru and put thru a second time and mail you notice, etc.
Paying bad a credit card?
Question:
I will be paying off a considerable amount of credit card debt with a loan I received. Has anyone ever have any luck with asking the credit card company to agree to a "pay-off amount" explicitly lower then the card's current match? We have be making the minimum payments on the cards so we are not accumulating past due fees or appearing as a risk to default. The cards adjectives have balance around $3,000.
Answers:
The only time ANY creditor will agree to settle for smaller amount than the full amount is if they have idea to believe they can't collect. Unless you have be i default for some time, they hold no reason to believe that.
NOTE: There is no such entry as paying off debt beside MORE DEBT (you called it a loan). You simply changed the christen of your creditor.
It doesn't hurt to ask, and it has be known to work, if your request is likely. You have to show the company you are making a good-faith crack to pay spinal column the money.
Call the American Consumer Counseling Center - unlike a lot of those "debt solution" places, this is a non-profit and won't clutch your money. They can give you some great counseling and support you on the best options for your distinctive situation.
American Consumer Counseling Center
http://www.consumercredit.com/ or 1-8OO-769-3571
MoneyGram or online eMoneyGram?
Question:
Hi all!
I stipulation to send something close to $850 to a friend in France. On the MoneyGram website, it indicates a $15 levy for such a transfer. But if I try to use eMoneyGram (I don't wanna stir out...), the fee is $55 for a same light of day service and $25 for the economy service.
Are they kid? Why is there that huge difference? Do you assume there are some unobserved fees behind the $15 announced on moneygram.com?
Thank you adjectives for your time :)
Answers:
No, $15 is about right for a moneygram station. Might be worth it to move off your house!
Foreign Country.?
Question:
If I live in a foreign country on a worker's visa, am I competent to withdraw my funds from my American mound account from an ATM appliance?
I have a Citibank reason, so which American bank report is best for living in Argentina?
Could I also do my (American)taxes online, lacking having to step into America?
Answers:
You should be capable of use your card in an ATM as long as your card type is shown as individual accepted at the ATM. There will probably be a duty charged by your bank for the foreign currency renunciation, but they usually give a pretty perfect exchange rate to make up for that.
Also you can folder your taxes on line lacking having to return to the States, or you can hold someone such as HR Block or others to file on your behalf.
Can a retired creature be approved for a sandbank loan?
Question:
Could someone with reliable credit be approved for a 20k loan if retired? (To be repaid over 4 years). Receiving good allowance and house almost paid sour.
Answers:
Yes most definitely.
My Father surrounded by Law took his first ever mortgage when he was 66 around 8 months after he retired.
At age 72 he applied for his first ever bank loan and be approved.
He receives a suitable income from his pension and have always maintain his accounts well.
Yes - the income can be considered income and the credit history is important.
Yes
You enjoy equity in your home so you shouldn't enjoy any problems.
Yes, probably, depends how old you are, the elder you are the more of a risk you are to the bank so you enjoy a higher casual of being refuse, but yes it is possible you can be approved
You will have no problem if your credit is virtuous. You will apply just similar to everyone else. Your pension is your income & your house is among your debt.
Good luck.
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What's a money instruct?
Question:
I want to buy a number of things from and American internet site and I be wondering what a money order is. On the other appendage, I live in the UK, so I'd entail information on how to convert my lb into $. When you pay near a credit card they just do it strightaway for you: is it indistinguishable with money instructions?
Answers:
Money orders are similar to checks, but they are guaranteed--you pay for them formerly you get them. They are sort of approaching traveler's checks and I am sure you have something similar contained by the UK.
it could be a postal order?
Money directives are basically close to a check (you fill them out resembling a check), but they are paid for near cash (i.e. the money is guaranteed on them unsophisticatedly.) I think you'd own to figure out the American equivalent of your currency it and purchase it for that price contained by your currency unless there is somewhere specific in attendance that will do that for you. (**Western Union computers can do an automatic currency conversion (F7 option I believe if the individual helping you doesn't know) so if you can find a place there that does western association it can do the current conversion for you. Here a lot of Western Union places also get rid of Western Union money orders as powerfully as do money transfers so maybe it's duplicate there as ably.)
It's the US equivalent of a postal order, surrounded by the US you normally buy them at a post department or some supermarkets sell them - they charge a small charge at the supermarket (ie a $25 money order cost me $26 a while vertebrae !)
I have have a look but don't see a way for an international customer to purchase one but here's the site anyway . http://www.usps.com/money/sendingmoney/m...
Do you own any friends in the US or any planning to pop in soon ?
They are like a bankers draft.
You jump to the bank and offer them the payees name, they construct out the draft with the amount, providing you hold the funds in your reason and the amount is deducted from your sketch immediately, and so guaranteeing the recipient that the draft will be honoured.They clearly make a charge for this service.
I involve money abet when can i find it?
Question:
Answers:
work. work work. find some work.
lottery tickets
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Common sense approach to getting your finances in charge.
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Is it financialy smart to rate stale a mortgage at age 40 and working fulltime near a child still surrounded by college?
Question:
Answers:
It depends on how much other interest paying accounts you have. I wouldn't earnings off my low interest mortgage if I have a high interest credit card loan, but if you are going on for to be debt free that would be wonderful!
It wouldn't be wise to transport money from an IRA or 401k to pay past its sell-by date the mortgage. If you suddenly inherited some money and be faced near the choice of paying off the mortgage or investing it elsewhere, you would stipulation to look at the interest you are paying on the mortgage, and the rate of return you could expect on the investment and the tax consequences of both.
It is nice not to own a mortgage payment. You receive to take the standard estimate on your tax return which may be almost as much as your itemized deduction with mortgage interest. The money that you have paid to the mortgage company can in a minute go towards increased retirement funds, etc.
Getting out of debt is ALWAYS smart. As Ronald E B stated, taking money form a retirement account to do so is almost other a bad model. Someone will probably tell you not to wages of the mortgage for tax reason. The ONLY tax conjecture that requires a mortgage is the mortgage interest. If you pay $1000 contained by interest, and are in the 24% export tax bracket, you save $250 contained by taxes. In other words, you give the wall $1000, to avoid giving the IRS $250. I would rather own the $750.
Can a human being wallet a chapter 7 ruin on a debt owed to the ky lottery ?
Question:
I know a guy who was leasing a store, the guys he be leasing from decided to vend the store and he was contained by debt to the kentucky lottery about 23,000 dollars, the ky lottery have threatened to take his home and personal belongings to draw from this money back. He have a wife and three kids,and has almost worried his self to death over whether he can take this debt discharged or is he going to lose his home and etc. over this. He has a loan he is paying on that he took out on this house, not with the sole purpose does he owe 23,000 to the kentucky lottery he owes 20,000 on the loan against the house. I have tried and tried to find answers to this, but so far not a soul has help out much. His attorney wants to try and stall the collection process of the ky lottery, but he desires to know if he should go ahead and profile on the house rather than to reaffirm it(pay the loan on the house) or if he should shift ahead and file on the house incentive he is going to lose it and owe the money to the lottery anyway.
Answers:
the KY lottery deal is pretty serious - and could see him some criminal filings
"You know a guy"?
Stay out of it. He doesn't stipulation conflicting advice from you if he's get an attorney working on it.
The lottery is the government. Ever hear the proverb that you can't fight city entry?
My answer may not solve your immediate crisis, but I be aware of it's the best advice surrounded by this situation. GET A NEW LAWYER! If his lawyer can't numeral a way to keep hold of your friend's bussiness debt separate from his personal assets, he is not doing his job. (Disregard this message if your friend's business is not an LLC or s-corp. If the shop be not set up in a deportment that limits your friend's liability, he is, slightly simply, an awful business man.)
Hi,
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Can I Refinance beside NOD??
Question:
THIS IS THE SCENARIO,
LOAN AMOUNT 690,000
NOTICE OF DEFAULT
FICO 463
SFR
PRIMARY RESIDENCE
W2
LTV IS 90%
in California
THX IN ADVANCE
Answers:
Hi,
I used "Credit Solution" to settle my debt and avoid foreclosure.They manage to reduce my debt up to 58%.It's lawful.I came accross this company on NBC News Special Edition.Check it out here:
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It will be really tough except impossible to refinance with a FICO ranking of 463.
If you have already received a non-attendance notice and still own about $70k surrounded by equity, you could consider selling the home to avoid foreclosure. It depends on how much time you have and how swiftly houses sell surrounded by your area.