Dear sir,
I need to calculate interest for 2 years on some outstanding amount.
The Agreement contains an interest clause and it is to be calculate interest 1% per month.
I have a doubt that it is 12% per annum with yearly compounding - or
12% per annum with monthly compounding.
Please advice me in which procedure i have to follow for calculation of interest.
It is more useful to me if provide any support for the procedure to be followed.
Thank you all.
I've read it could be daily or monthly for business loans.
Nice terminology 'modalities' what does it mean? Does it fall under loan amortisation?
@ CA Rashmi what is modalities and how is it calculated. There is no finance or accounting topic on this.
Thank you very much madam...
I've read about financial modalities for various projects. And the capital raised is given in instalments. So it means does everyone amortise loans in different schedules? Also what about project appraisal report? Do they have to calculate marginal wacc?
CAclubindia
