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
mohammed asharaf (accountant) (71 Points)
23 April 2010please 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
Nand Kishor Agrawal
(Article)
(158 Points)
Replied 23 April 2010
there must be some rate of interest???
AFZAL SHERJI
(CA)
(262 Points)
Replied 23 April 2010
Total Payment = 48 * 15730= 755040
Interest = 755040 - 500000 = 255040.
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