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The money they pay is interest. Interest is calculated as a percent of the bank balance. If you have 1500 euros in a bank account for a whole year and the interest rate is 12% pa. (pa. means per annum = per year), you can find the amount of interest by calculating the the percentage.

The future value formula is FV=PV(1+i)n, where the present value PV increases for each period into the future by a factor of 1 + i. The future value calculator uses multiple variables in the FV calculation: The present value sum. Number of time periods, typically years.

Here's the calculation formula: Deposit Interest = Deposit Amount + (Deposit Interest Gain ? Deposit Tax Amount)Deposit Interest Profit = (Amount of Deposit x Interest Rate x Total Tenor): 365 days.Deposit Tax Amount = Deposit Interest Gain x Tax Rate.

So, per annum is a way of expressing the rate of interest over a principal amount. In other words, per annum means that interest will be charged or calculated yearly or annually. So, $10$ percent per annum means that $10$ percent interest will be charged yearly or annually over a principal amount or a loan.

You calculate simple interest using the formula Interest = P x R x N, where P is the beginning balance, R is the interest rate, and N is the number of periods. The interest is paid at the end of the period.

It is calculated by multiplying the principal, rate of interest and the time period. The formula for Simple Interest (SI) is ?principal x rate of interest x time period divided by 100? or (P x Rx T/100).

Calculating Per Annum Interest To calculate a monthly interest payment based on a per annum interest rate, multiply the principal basis for the loan by the annual interest rate.Divide the annual interest amount by 12 to calculate the amount of your per annum interest payment that is due each month.