1. How is interest drawing calculated, if the drawings are made at regular intervals, as on the first day of each month
Answers
Answered by
15
Use this formula , provided if same amount is being drawn on the first day of each month.
Interest On Drawings = Amount withdrawn × 6.5 × Rate of Interest
Answered by
5
Answer:
6.5months
Explanation:
interest of drawing=amount *6.5months*rate of interst
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