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Editorial Board on Accounts and Audit
  • Effective interest rate -2

    by Chirag on Tuesday, June 18, 2019 at 03:40 PM

    Dear Sir, With respect to query raised on Sunday, June 09, 2019 at 01:35 AM titled- Effective interest rate , Pls clarify that whether repayment of loan of Rs 10 lacs in the 5th year will be considered for calculation of effective interest rate or not ?? 2) If yes, then how calculation of Effective interest rate will be made ?? 3) If no, pls tell the reason that why it should not be considered ?? Thanks

    Replied byEditorial Board Friday, June 21, 2019 at 08:29 PM

    It is presumed that the installment payment of Rs. 2,77,410 includes principal as well as interest. Therefore, the repayment of loan is happening every year and hence the question of payment of Rs. 10 lacs at the end of the 5th year does not arise.

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