For how much period, interest on drawings will be calculated if the eq

1.	For how much period, interest on drawings will be calculated if the equal amounts are drawn for 6 months ending on 1. 1st date of every month, 2. End of every month, 3. Middle of every month?
Answer» Interest will calculate as follows: 1. 1st day of every month: \( \frac { N+1 }{ 2 } = \frac { 6+1 }{ 2 } \) = 3.5 month 2. Last day of every month: \( \frac { N-1 }{ 2 } = \frac { 6-1 }{ 2 } \)= 2.5 month 3. Middle day of every month: \( \frac { N }{ 2 } = \frac { 6 }{ 2 } =\) 3 month

For how much period, interest on drawings will be calculated if the equal amounts are drawn for 6 months ending on 1. 1st date of every month, 2. End of every month, 3. Middle of every month?

Answer»

Interest will calculate as follows:

1. 1st day of every month: \( \frac { N+1 }{ 2 } = \frac { 6+1 }{ 2 } \) = 3.5 month

2. Last day of every month: \( \frac { N-1 }{ 2 } = \frac { 6-1 }{ 2 } \)= 2.5 month

3. Middle day of every month: \( \frac { N }{ 2 } = \frac { 6 }{ 2 } =\) 3 month