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Rebate Formula

A loan of $3,000,000 at 0.25% interest for 7 days accrued $14,384 in total interest. With a 5% rebate on principal and 0.05% rebate on interest, the total rebate amount was $2,877.

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CHARLES TUMWESIGYE
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165 views1 page

Rebate Formula

A loan of $3,000,000 at 0.25% interest for 7 days accrued $14,384 in total interest. With a 5% rebate on principal and 0.05% rebate on interest, the total rebate amount was $2,877.

Uploaded by

CHARLES TUMWESIGYE
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Principal 3,000,000

Interest Rate 0.25


Tenure in Days 7
Total Interest 14,384 Formula Click in D5
Rebate on Principal 5%

Rebate Interest 0.05


Rebate Amount 2,877 Formula Click in D9

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