Interest On Loan ?

Hi Sanjev

How many is this loan (i.e) your repayment term whether 48, 60 mths.

then we can find it out.

Regds

Balaji S.

Hi Balaji,

Its for 12Months.

Regards

now i come to your second ques. which is the best plan & why?

and the answer is reducing balance method is the best out of two under given situation b'coz at flat rate of interest it comes to Rs. 54360/- (i.e. 453000*12%)  while under reducing rate of interest it comes to Rs. 47976/- (i.e. 41748*12-453000). which saves your Rs.6384/-  under later option.

Now choice is yours.

Hi Naveen

I like to know how we need to use the formula in excel to calculate EMI

Regards,

Sathish

Hi Naveen,

Can you send me that spread sheet to my email address,

sathishrao_22 @ yahoo,com

sathishrao_22 @ rediffmail.com

Thanks,

Sathish