If I am owing about 1 Cr. @ 8% P.A. interest Rate and for the I have to spend about 10 Lacs as one time expenses.
then what will be my effective rate of interest, for the loan tenure of 5 yrs.
1 Replies
CA PALLAVI VOHRA
(Learner)
(140 Points)
Replied 02 August 2014
Effective rate of interest in your case is 12.56% determined. please refer to link as under:
https://www.calculatorsoup.com/calculators/financial/apr-calculator.php
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