Bank overdraft account rate of interest calculation
This query is : Resolved
13 June 2023
Dear sir.,
if i am check to our bank rate of interest for monthly kindly provide any example formula with excel , my id -->sathishrajaj@gmail.com
if i am check to our bank rate of interest for monthly kindly provide any example formula with excel , my id -->sathishrajaj@gmail.com
06 July 2024
Example Calculation
Assume you have the following details:
• Principal Amount (Loan): Rs. 100,000
• Annual Interest Rate: 12%
• Loan Term: 12 months
Formula to Calculate Monthly Interest
1. Calculate Monthly Interest Rate:
• Formula: Monthly Interest Rate = Annual Interest Rate / 12
• In Excel: If Annual Interest Rate is in cell B2, use =B2/12
2. Calculate Monthly Payment using PMT function:
• Formula: =PMT(Monthly Interest Rate, Number of Payments, Principal Amount)
• In Excel: =PMT(B4, B3, -B1)
Assume you have the following details:
• Principal Amount (Loan): Rs. 100,000
• Annual Interest Rate: 12%
• Loan Term: 12 months
Formula to Calculate Monthly Interest
1. Calculate Monthly Interest Rate:
• Formula: Monthly Interest Rate = Annual Interest Rate / 12
• In Excel: If Annual Interest Rate is in cell B2, use =B2/12
2. Calculate Monthly Payment using PMT function:
• Formula: =PMT(Monthly Interest Rate, Number of Payments, Principal Amount)
• In Excel: =PMT(B4, B3, -B1)
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ECO SUPPLY REPORTIONG IN GSTR-1
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- CCFS 2026 Schemed
- Subscription paid to foreign customer
- Two seprate Invoice needed
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
