How to calculate flat rate when given reducing rate? - 18% diminishing rate of interest =
Suppose I have a loan Rs.1lakh lower interest rate of 18% for 3 years, then it would be fixed and how to calculate. Pls give us the formula
Thursday, February 4, 2010
18% Diminishing Rate Of Interest = How To Calculate Flat Rate When Given Reducing Rate?
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1 comments:
First calculate the total interest cost of the WDV method.
Share the results with 3
Then divide the resulting figure with Prinicpal loan amount and multiplied by 100.
They have a package for your loan.
CA. Deepak Bholusaria
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