Hi,
I have a loan amount of Rs.100000/- @ 10%, term of loan is 36 months with 12 months repayment holiday. During the repayment holiday the interest has to be deferred and based on the option of the customer I want to calculate simple rate of interest or compound rate of interest and arrive EMI amount or Fixed principal amount on the accumulated amount. Any simple formula. I am using a cumbersome procedure of generating a schedule separately and arrriving the total amount.
Any help to simplify the procedure.
Regards,
Prakash.
I have a loan amount of Rs.100000/- @ 10%, term of loan is 36 months with 12 months repayment holiday. During the repayment holiday the interest has to be deferred and based on the option of the customer I want to calculate simple rate of interest or compound rate of interest and arrive EMI amount or Fixed principal amount on the accumulated amount. Any simple formula. I am using a cumbersome procedure of generating a schedule separately and arrriving the total amount.
Any help to simplify the procedure.
Regards,
Prakash.