Accountancy, asked by rithikpandey6333, 9 months ago

the interest was received

Answers

Answered by paras4099
0

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Answered by ᴅʏɴᴀᴍɪᴄᴀᴠɪ
9

Answer:

➡An amount received for the use of money that is to be repaid in full at a specified time or on demand.

➡To calculate intrest recieved..

Take the annual interest rate and convert the percentage figure to a decimal figure by simply dividing it by 100. ...

Use the decimal figure and multiply it by the number of years that the money is borrowed. ...

Multiply that figure by the amount in the account to complete the calculation..

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