Hello Ed,
We tried to create a P6000 today with a term of 25 weeks and a 41.6%/year
nominal rate. This should give us a total interest of 6000 * .416/52 * 25
= P1200.
If the interest calculation method is flat, our total interest is P1200.
However, if the interest calculation method is declining balance, our total
interest is not equal to P1200.
Shouldn't the total interest be the same regardless of calculation method?
Please advise.
--
*Mark Philippe L. Mirasol**IT Project Manager*
*TEAMMICRO*
Mobile: +63 9173008873
Email: markmira...@teammicro.net
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