Can someone help me calculate loan amortization with grace period using effective interest rate? Thanks...
Principal 10,000.00
Term - 1 year or 12 months
Interest rate (nominal) - 10%
Grace period - 2 months
Can someone help me calculate loan amortization with grace period using effective interest rate? Thanks...
Principal 10,000.00
Term - 1 year or 12 months
Interest rate (nominal) - 10%
Grace period - 2 months
What do you mean by grace period?
Does that mean that yo do not get interest for two months
Or
Does it mean that you get 14 months interest?
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