{"id":95403,"date":"2022-05-03T13:31:25","date_gmt":"2022-05-03T08:01:25","guid":{"rendered":"https:\/\/www.oliveboard.in\/blog\/?p=95403"},"modified":"2022-05-13T12:25:52","modified_gmt":"2022-05-13T06:55:52","slug":"calculation-of-interest-and-annuities","status":"publish","type":"post","link":"https:\/\/www.oliveboard.in\/blog\/calculation-of-interest-and-annuities\/","title":{"rendered":"Calculation of Interest and Annuities-Basics of Business Mathematics For JAIIB"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_77 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of content<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.oliveboard.in\/blog\/calculation-of-interest-and-annuities\/#Download_Calculation_of_Interest_and_Annuities_Here\" >Download Calculation of Interest and Annuities Here<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.oliveboard.in\/blog\/calculation-of-interest-and-annuities\/#Whats_there_in_the_ebook_of_Calculation_of_Interest_and_Annuities\" >What&#8217;s there in the ebook of Calculation of Interest and Annuities?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.oliveboard.in\/blog\/calculation-of-interest-and-annuities\/#Sneak-Peak_into_Calculation_of_Interest_and_Annuities\" >Sneak-Peak into Calculation of Interest and Annuities:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.oliveboard.in\/blog\/calculation-of-interest-and-annuities\/#Whats_there_in_the_ebook\" >What&#8217;s there in the ebook?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.oliveboard.in\/blog\/calculation-of-interest-and-annuities\/#JAIIB_Study_Material_Compilation\" >JAIIB Study Material Compilation<\/a><\/li><\/ul><\/nav><\/div>\n\n<p><strong>Calculation of Interest and Annuities: <\/strong>The Calculation of Interest and Annuities for the JAIIB Exam is one of the most important topics for JAIIB. JAIIB exam is conducted twice a year. So, here we are providing the Calculation of Interest and Annuities (Unit-1) &#8211;<strong> Basics of Business Mathematics notes for JAIIB.<\/strong><\/p>\n\n\n\n<div class=\"wp-block-buttons aligncenter is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link\" href=\"https:\/\/www.oliveboard.in\/jaiib-mock-test\/\">Attempt JAIIB free Mock Test Now<\/a><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Download_Calculation_of_Interest_and_Annuities_Here\"><\/span>Download Calculation of Interest and Annuities Here<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"wp-block-buttons aligncenter is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link\" href=\"https:\/\/www.oliveboard.in\/free-ebook-pdf-download\/?ref=contpn&amp;cat=jaiib&amp;next=https:\/\/bit.ly\/basic-of-bussiness-math-1\">Download the free notes here<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>How To Download The Free Calculation of Interest and Annuities<\/strong> <strong>pdf for JAIIB?<\/strong><\/h3>\n\n\n\n<p><strong>Step 1:<\/strong>&nbsp;Click on the&nbsp;<strong>download link<\/strong>. You will be taken to Oliveboard\u2019s FREE E-Books Page.<\/p>\n\n\n\n<figure class=\"wp-block-image is-resized\"><a href=\"https:\/\/www.oliveboard.in\/jaiib-caiib\/\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2022\/02\/image-1-1.png\" alt=\"\" class=\"wp-image-92395\" width=\"678\" height=\"274\"\/><\/a><\/figure>\n\n\n\n<p><strong>Step 2:<\/strong>&nbsp;Register\/Login to the Free E-Books Page of Oliveboard (It is 100% free, You just enter your valid email ID and a password to be able to download the&nbsp;<em><strong>JAIIB Practice<\/strong><\/em>&nbsp;questions pdf.<\/p>\n\n\n\n<p><strong>Step 3:<\/strong>&nbsp;After Logging in, you will be able to download the free e-book by clicking on&nbsp;<strong>\u201cclick here\u201d<\/strong>&nbsp;as shown in the snap below.<\/p>\n\n\n\n<figure class=\"wp-block-image is-resized\"><a href=\"https:\/\/www.oliveboard.in\/jaiib-caiib\/\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2022\/02\/image-4.png\" alt=\"\" class=\"wp-image-92397\" width=\"606\" height=\"297\"\/><\/a><\/figure>\n\n\n\n<div class=\"wp-block-buttons aligncenter is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link\" href=\"https:\/\/www.oliveboard.in\/jaiib-mock-test\/\">Attempt JAIIB free Mock Test Now<\/a><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Whats_there_in_the_ebook_of_Calculation_of_Interest_and_Annuities\"><\/span>What&#8217;s there in the ebook of Calculation of Interest and Annuities?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Table of Content<\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Meaning of Interest<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Reasons for Charging Interest<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Types of Interest<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Types of Interest for Bank Deposits:<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Daily Product Method<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Equated Monthly Installment<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Front-End and Back-End Interest Rates<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Fixed and Floating Interest rates<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Comparison between Fixed and Floating Interest Rate<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Annuities<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<div class=\"wp-block-buttons aligncenter is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link\" href=\"https:\/\/www.oliveboard.in\/jaiib-mock-test\/\">Attempt JAIIB free Mock Test Now<\/a><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Sneak-Peak_into_Calculation_of_Interest_and_Annuities\"><\/span>Sneak-Peak into Calculation of Interest and Annuities:<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"506\" height=\"639\" src=\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2022\/05\/image.png\" alt=\"\" class=\"wp-image-95407\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"525\" height=\"695\" src=\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2022\/05\/image-1.png\" alt=\"\" class=\"wp-image-95408\"\/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Whats_there_in_the_ebook\"><\/span>What&#8217;s there in the ebook?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong>Calculation of Interest and Annuities: Unit-1<\/strong><\/p>\n\n\n\n<p>Apart from earning money for their livelihood, people also need money to meet additional expenses like marriage in the family, buying a car, house or starting a business. Most people have to borrow money to pay for such things, although some will manage with their own money.<\/p>\n\n\n\n<p><strong>What is the meaning of Interest:<\/strong><\/p>\n\n\n\n<p>Interest can be defined as the price paid by a borrower for the use of a lender\u2019s money.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>It is excess of money paid or received on deposits or borrowings.&nbsp;<\/li><li>Interest is the price paid by a borrower for the use of a lender\u2019s money. If you borrow (or lend) some money from (or to) a person for a particular period you would pay (or receive) more money than your initial borrowing (or lending).<\/li><li>It is compensation paid to the depositor.<\/li><\/ul>\n\n\n\n<p><strong>Reasons for Charging Interest:<\/strong><\/p>\n\n\n\n<p>There are a variety of reasons for charging the interest, they are<\/p>\n\n\n\n<p><strong>Opportunity Cost:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The lender has a choice between using his money in different investments. If he chooses one, he forgoes the return from all others.<\/li><li>In other words, lending incurs an opportunity cost due to the possible alternative uses of the lent money.<\/li><\/ul>\n\n\n\n<p><strong>Liquidity Preference:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>People prefer to have their resources available in a form that can immediately be converted into cash rather than a form that takes time or involves expenditure to realize<\/li><\/ul>\n\n\n\n<p><strong>Time value of money:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Time value of money means that the value of unity of money is different in different time periods. The sum of money received in the future is less valuable than it is today.<\/li><li>Since a rupee received today has more value, rational investors would prefer current receipts to future receipts. If they postpone their receipts, they will certainly charge some money i.e. interest.<\/li><li>In other words, the worth of rupees received after some time will be less than a rupee received today.<\/li><\/ul>\n\n\n\n<p><strong>Inflation:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Most economies generally exhibit inflation. Inflation is a fall in the purchasing power of money.<\/li><li>Due to inflation, a given amount of money buys fewer goods in the future than it will now. The borrower needs to compensate the lender for this.<\/li><\/ul>\n\n\n\n<p><a href=\"https:\/\/www.oliveboard.in\/free-ebook-pdf-download\/?ref=contvg&amp;cat=jaiib&amp;next=https:\/\/bit.ly\/basic-of-bussiness-math-1\"><strong>Read More<\/strong>&#8230;<\/a><\/p>\n\n\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"JAIIB_Study_Material_Compilation\"><\/span>JAIIB Study Material Compilation<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>Principles And Practices Of Banking&nbsp;<\/td><td><a href=\"https:\/\/www.oliveboard.in\/blog\/principles-and-practices-of-banking\/\">Principles And Practices Of Banking | Study Notes For JAIIB (oliveboard.in)<\/a><\/td><\/tr><tr><td>Reserve Bank of India<\/td><td><a href=\"https:\/\/www.oliveboard.in\/blog\/banking-awareness-notes-reserve-bank-of-india-rbi\/\">Reserve Bank of India: Organisation &amp; Functions &#8211; Oliveboard<\/a><\/td><\/tr><tr><td>Types Of Shares And Their Issue<\/td><td><a href=\"https:\/\/www.oliveboard.in\/blog\/types-of-shares-and-their-issue\/\">Types Of Shares And Their Issue- Types, Classification, Bonus Shares (oliveboard.in)<\/a><\/td><\/tr><tr><td>Understanding The Balance Sheet And Its Format<\/td><td><a href=\"https:\/\/www.oliveboard.in\/blog\/understanding-the-balance-sheet-and-its-format\/\">Understanding The Balance Sheets And It&#8217;s Format (oliveboard.in)<\/a><\/td><\/tr><tr><td>Accounting And Finance For Bankers<\/td><td><a href=\"https:\/\/www.oliveboard.in\/blog\/accounting-and-finance-for-bankers\/\">Accounting And Finance For Bankers | Study Notes For JAIIB (oliveboard.in)<\/a><\/td><\/tr><tr><td>Assets &amp; Liabilities&nbsp;<\/td><td><a href=\"https:\/\/www.oliveboard.in\/blog\/assets-liabilities\/\">Assets &amp; Liabilities &#8211; Meaning, Legal Requirements and more (oliveboard.in)<\/a><\/td><\/tr><tr><td>Public Sector Banks And Cooperative Banks<\/td><td><a href=\"https:\/\/www.oliveboard.in\/blog\/public-sector-banks-and-cooperative-banks\/\">Public Sector Banks And Cooperative Banks | JAIIB Study Notes (oliveboard.in)<\/a><\/td><\/tr><tr><td>Calculation of Interest and Annuities<\/td><td><a href=\"https:\/\/www.oliveboard.in\/blog\/calculation-of-interest-and-annuities\/\">Calculation of Interest and Annuities-Business Mathematics For JAIIB (oliveboard.in)<\/a><\/td><\/tr><tr><td>Calculation of YTM<\/td><td><a href=\"https:\/\/www.oliveboard.in\/blog\/calculation-of-ytm\/?utm_source=rss&amp;utm_medium=rss&amp;utm_campaign=calculation-of-ytm\">Calculation of YTM(Yield to Maturity)-Basics of Business Mathematics (oliveboard.in)<\/a><\/td><\/tr><tr><td>Consumer Protection Act<\/td><td><a href=\"https:\/\/www.oliveboard.in\/blog\/consumer-protection-act\/\">Consumer Protection Act COPRA- Free Pdf Notes for JAIIB 2022 (oliveboard.in)<\/a><\/td><\/tr><tr><td>Risk and Basic Risk Management Framework<\/td><td><a href=\"https:\/\/www.oliveboard.in\/blog\/risk-and-basic-risk-management-framework-jaiib\/\">Risk and Basic Risk Management Framework JAIIB | Oliveboard<\/a><\/td><\/tr><tr><td>Risks in Banking Business<\/td><td><a href=\"https:\/\/www.oliveboard.in\/blog\/risks-in-banking-business\/\">Risk in Banking Business<\/a><\/td><\/tr><tr><td>Functions of Bank<\/td><td><a href=\"https:\/\/www.oliveboard.in\/blog\/functions-of-bank\/\">Functions of Bank &#8211; Short Notes for JAIIB Exam | Oliveboard<\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>Also Read:<\/p>\n\n\n\n<ol class=\"wp-block-list\"><li><a href=\"https:\/\/www.oliveboard.in\/blog\/important-tips-to-crack-jaiib-exams\/\">5-Important Tips To Crack JAIIB Exams| Check Here (oliveboard.in)<\/a><\/li><li><a href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-frequently-asked-questions\/\">JAIIB Frequently Asked Questions- 2022| Check Here (oliveboard.in)<\/a><\/li><li><a href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-questions-pdf\/\">JAIIB Genius | JAIIB Weekly Quiz PDF &#8211; JAIIB Questions PDF (oliveboard.in)<\/a><\/li><li><a href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-full-form\/\">JAIIB Full Form &#8211; Junior Associate of the Indian Institute of Bankers (oliveboard.in)<\/a><\/li><li><a href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-and-caiib-books\/\">JAIIB and CAIIB Books- Exams Syllabus, Books, and more (oliveboard.in)<\/a><\/li><\/ol>\n\n\n\n<p>Also Check:<\/p>\n\n\n\n<ol class=\"wp-block-list\"><li><a href=\"https:\/\/www.oliveboard.in\/jaiib\/\">JAIIB 2022 Exam -Notification Released (oliveboard.in)<\/a><\/li><li><a href=\"https:\/\/www.oliveboard.in\/jaiib\/notification\">JAIIB Notification 2022 &#8211; Notification PDF, Eligibility, (oliveboard.in)<\/a><\/li><li><a href=\"https:\/\/www.oliveboard.in\/jaiib\/application-form\">JAIIB Apply Online &#8211; Application Form 2022, Fees, Instru (oliveboard.in)<\/a><\/li><li><a href=\"https:\/\/www.oliveboard.in\/jaiib\/eligibility\">JAIIB Eligibility &#8211; Age, Degree, Nationality, Members (oliveboard.in)<\/a><\/li><li><a href=\"https:\/\/www.oliveboard.in\/jaiib\/syllabus\">JAIIB Syllabus &#8211; Complete List of Papers, Modules (oliveboard.in)<\/a><\/li><li><a href=\"https:\/\/www.oliveboard.in\/jaiib\/exam-pattern\">JAIIB Exam Pattern 2022 &#8211; Details of Pattern, Marking (oliveboard.in)<\/a><\/li><li><a href=\"https:\/\/www.oliveboard.in\/jaiib\/admit-card\">JAIIB Admit Card November 2022 &#8211; Steps and Direct Download (oliveboard.in)<\/a><\/li><li><a href=\"https:\/\/www.oliveboard.in\/jaiib\/cut-offs\">JAIIB 2022 Cut Offs &#8211; Check JAIIB Minimum Cut Off (oliveboard.in)<\/a><\/li><\/ol>\n","protected":false},"excerpt":{"rendered":"<p>Calculation of Interest and Annuities: The Calculation of Interest and Annuities for the JAIIB Exam is one of the most<\/p>\n","protected":false},"author":60,"featured_media":95410,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10353],"tags":[],"class_list":["post-95403","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-jaiib","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-50"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Calculation of Interest and Annuities-Business Mathematics For JAIIB<\/title>\n<meta name=\"description\" content=\"Calculation of Interest and Annuities-Basics of Business Mathematics For JAIIB: You can download the free ebook here.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.oliveboard.in\/blog\/calculation-of-interest-and-annuities\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Calculation of Interest and Annuities-Basics of Business Mathematics For JAIIB\" \/>\n<meta property=\"og:description\" content=\"Calculation of Interest and Annuities: The Calculation of Interest and Annuities for the JAIIB Exam is one of the most important topics for JAIIB. JAIIB\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.oliveboard.in\/blog\/calculation-of-interest-and-annuities\/\" \/>\n<meta property=\"og:site_name\" content=\"Oliveboard\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Oliveboard\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-03T08:01:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-05-13T06:55:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2022\/05\/Recent-Developments-in-the-Financial-System.png\" \/>\n\t<meta property=\"og:image:width\" content=\"730\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Tripti Mishra\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Oliveboard\" \/>\n<meta name=\"twitter:site\" 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