Could anyone, please guide me following two questions.
- Fixed Annual Interest Rate
- Reducing Balance Annual Interest Rate
- Principal Amount : 800,000
- Profit Rate: 5.9 % Per Anum
- Years: 20
Advise formula for both type of calculation, to know installment per month or per year basis. I need to find out the interest portion and principal portion for each month using reducing balance.. would be gr8 if you can provide the formula
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