\ slb \ SERVICE LAW BOOKS MENU \ TITLE 8 OF CODE OF FEDERAL REGULATIONS (8 CFR) \ 8 CFR PART 293 -- DEPOSIT OF AND INTEREST ON CASH RECEIVED TO SECURE IMMIGRATION BONDS \ § Sec. 293.2 Interest rate.
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§
Sec. 293.2 Interest rate.
The Secretary of the Treasury has determined that effective from date of deposit occurring after April 27, 1966, the interest rate shall be 3 per centum per annum.
§
Sec. 293.3 Simple interest table.
Following is a simple interest table from which computation of interest at 3 per centum per annum on a principal of $1,000 for a fractional 365-day year may be derived by addition only. The interest is stated in the form of a decimal fraction of $1.
|
Days
|
Interest
|
|
|
|
|
1......
|
0821 9178
|
|
|
|
|
2......
|
1643 8356
|
|
|
|
|
3......
|
2465 7534
|
|
|
|
|
4......
|
3287 6712
|
|
|
|
|
5......
|
4109 5890
|
|
|
|
|
6......
|
4931 5068
|
|
|
|
|
7......
|
5753 4246
|
|
|
|
|
8......
|
6575 3424
|
|
|
|
|
9......
|
7397 2602
|
Example: 3% on $500 for 93 days:
|
|
Days
|
|
|
|
|
............ 90.........
|
$7.3972 602
|
|
|
|
|
............. 3..........
|
.2465 7534
|
|
|
|
|
Interest on $1,000....... 93........
|
$7.6438 3554
|
|
|
|
|
Interest on $500........................
|
$3.82
|