Please guide me on the following:
A Pvt Ltd Co has taken Loan of Rs 5,00,000 from Director's wife .
Repaying Rs 7500/- as monthly Installment. How do one accrue Interest (10%) on half yearly basis on the above loan on Reducing Balance method.
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Accrues interest on loan
Replies (1)
Hi,
In this case, Accrued Interest for first half will be around 24600
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