All Posts in "NEW BUSINESS MATH"

How to Open a Joint Fixed Deposit Account

Opening a joint fixed deposit (FD) account is an excellent way to combine resources and achieve financial goals collaboratively. It is particularly useful for families planning long-term investments, such as funding a child’s education. With the convenience of digital banking platforms like the SBI Fixed Deposit App, opening and managing a joint FD account has never been easier. Here, we will discuss the steps, benefits, and considerations for opening a joint FD for child education.

What is a Joint Fixed Deposit Account?

A joint fixed deposit account allows two or more individuals to deposit money together in a fixed-term investment. Each account holder has a stake in the deposit and enjoys the benefits of interest earnings. Typically, joint FDs are popular among family members, business partners, or spouses.

Benefits of Opening a Joint FD Account

  1. Shared Investment Responsibility: Multiple account holders can contribute to the FD, reducing the financial burden
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Sofia Benjamin by — February 10, 2025 in Finance Business
Best Precious Metals Ira in 2022: Things to Remember

We can all agree that a gold IRA is retirement account that gives chance to investors to take advantage of precious physical metals such as gold, which you would not get with a standard IRA.

If you wish to take advantage of precious metals inside of it, the best course of action is to make a self-directed account administered by a custodian who will store and handle the metal. Keeping gold within IRA comes with significant fees, which is why you should also understand the tax ramifications.

We recommend you to check here to understand everything about investing in precious metal individual retirement account.

However, gold comes with a glittering appeal, mainly because it is a durable, tangible asset that traditionally keeps or increases value during political upheavals, inflation, and the lousy stock market. Even if you do not earn too much by investing, meaning it lacks high return as … READ MORE ...

Sofia Benjamin by — October 3, 2022 in Finance Business
How to Calculate the Annual Rate of Compound Interest

Using the compound interest formula will help you calculate how much your investment will grow in value. The interest on the principal plus the interest on the interest equals compound interest. This formula is easy to understand and can be used for a savings account, IRA, or any other investment. Using this formula will also allow you to see the annual rate of compound interest on your investment.

Calculating compound interest

The compound interest formula can be used to calculate the interest on a savings account. Basically, the interest is added to the principal amount and the process repeats itself over time. This interest will continue to accumulate until the money is withdrawn. To calculate this interest, you can use a compound interest calculator.

Using the compound interest formula, you can calculate the annual rate of interest. Simply divide this rate by twelve to find the annual force of interest. … READ MORE ...

Sofia Benjamin by — September 21, 2022 in Financial Mathematics Formula
The Use of Mathematics in Economics

The use of mathematics in economics is a great tool for the study of economic phenomena. It gives economic theory a concrete form, and helps make economics more practical and logical. It also makes it easier to understand relations and derive results, which is often difficult to do using verbal logic alone.

Mathematical economics is a method of economics

Mathematical economics uses mathematical principles to analyze and predict economic behavior. This method is often used to develop economic theories and policy measures. Because it relies on mathematics, economic theorists are able to make precise predictions and inferences. They also can use quantitative data to test their theories and predictions.

Mathematical economics has paved the way for genuine economic modelling. These models are particularly useful in day-to-day economic policymaking. While there are many qualitative approaches to economic analysis, econometrics aims to translate qualitative statements into quantitative ones. Moreover, it can provide … READ MORE ...

Sofia Benjamin by — June 13, 2022 in Economics Business Mathematics
Financial Maths Notes

This course covers the fundamentals of financial math. You will learn how to make decisions and how to interpret financial data using mathematical equations. You will also learn about Monte Carlo simulation, Optimization, and Econometrics. These topics are critical to understanding finance and investing. However, there are many other topics that you should be familiar with, such as economics and statistics.

Econometrics

If you’re looking for a comprehensive resource for econometrics, you’ve come to the right place. The following econometrics notes cover topics such as forecasting, ARMA processes, spectral analysis, asymptotic distribution theory, and Bayesian methods. Though each text covers a slightly different area, they all contain useful information.

The first part of this book covers the basic principles of econometrics. It also introduces time-series models and the statistical foundations of econometrics. In addition, it includes a section on the state of the art of econometrics research. Afterward, students will … READ MORE ...

Sofia Benjamin by — June 4, 2022 in Financial Mathematics Formula