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Calculation of interest on drawings sums |
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Answer» Answer: DRAWINGS are made in the begnning of each period (halfyear) INTEREST on drawing = AMOUNT x Rate/100 x 9/12. Drawings are made in the MIDDLE of each period (half year) interes on drawing = Amount x Rate/100 x 6/12. Drawings are made at the end of each period (half year) interest on drawing = Amount x Rate/100 x 3/12. |
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