1.

Write a note on (a) Maturity date (b) Front and backend interest.

Answer»

(a) The maturity of a promissory note or bill of exchange is the date at which it falls due for payment.

(b) Front end interest is interest calculated at the beginning of the loan installment, in advance, whereas the back end interest is interest calculated at the end of the installment when interest amounts fall due.



Discussion

No Comment Found

Related InterviewSolutions