please help me how to calculate interest on loan under diminishing balance method.... its very urgent...
prinicpal loan amount - 500000
terms 48 months
monthly instalment 15730
very urgent please
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very urgent.............. please giv me solution
Replies (2)
there must be some rate of interest???
Total Payment = 48 * 15730= 755040
Interest = 755040 - 500000 = 255040.
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