Application Fee and Initial Deposit

1. Initial Deposit Into Escrow Account
2. Initial Deposit On Home Purchase
3. Initial Deposit
4. Initial Deposit Formula
5. Initial Deposit Def

• How long do I have to make an initial deposit? Please fund your High Yield account within 60 days after receiving approval of application; otherwise, your account will be closed. Please fund your Certificate of Deposit account within 30 days after receiving approval of.
• Deposits are applied at the beginning of each month. If you want to make deposits at the end of each month, then please subtract the first deposit from the initial savings amount. For example, if you had $1,000 saved up and wanted to deposit $100 at the end of the month you would set your initial deposit to.

A $75 non-refundable Application Fee is required at the time of application. A $400 Initial Deposit is due at the time of application. The Initial Deposit will automatically be applied after the spring portion of the contract is completed, or the student may choose to roll this payment over to the next fall contract period during Priority Room Selection in October. Refund of the $400 Initial Deposit, due to cancellation prior to occupancy, is determined in the following chart. Students are required to contract for a Dining Plan in addition to a room.

Initial Deposit Into Escrow Account

Once the contract has been signed, even if it is after the cancellation dates below, it becomes a binding agreement, a contract between the student (and his/her Guarantor, if required) and the University. All cancellation requests must be submitted to University Student Housing in writing by the student.

Unless you combine two different formulas from Math of Finance into a single expression. The single initial deposit of $1000 will compound for 20 years at 5% compounded annually. The final amount for this part of the deposit will be: V1 = 1000 x (1.05)^20.

Initial Deposit Cancellation Schedule (Prior To Occupancy)

Contract Term

Students must select the contract term for the period of occupancy that they intend to reside in the Residence Halls. The following contract terms are available:

Initial Deposit On Home Purchase

Initial Deposit

Additional Deposit

Initial Deposit Formula

Residents who reserve space in Carpenter/Wells, Murray Hall, Gordon Hall, Talkington Hall, West Village, or Honors Hall are required to pay a $250 Additional Deposit, in addition to the $400 Initial Deposit. It is due at the time a contract is completed. This fee is non-refundable if the contract is cancelled at any time before the end of the contract period.

Initial Deposit Def

Both the Initial Deposit and the Additional Deposit will automatically be applied as a credit after the spring portion of the contract is completed, or the student may choose to roll this payment over to the next fall contract period during Priority Room Selection in October.