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| *Business questions>>>Personal Finance Questions |
How do you work out the balance of the interest charged? |
Question: Could someone please tell me how to work out what the balance that interest refers to. For instance, if the interest charged is 9.76 at 1.313 per month. Answer: at 1.313% amount is 9.76 at (100 - 1.313) 98.687 ----- ? multiply 9.76 and 98.687 and divide it by 1.313 add the answer and 9.76 that will be the princliple |
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