a. Fixed Dividing Method
The fixed dividing method is used if the unmarried involvement charge per unit of measurement is a divisor of 360, 1 year is considered 360 days, the involvement charge per unit of measurement i% /year in addition to the menstruation of liver flattening.a.1 Formulas of the Fixed Dividing Method
B = involvement rate/fixed divider
Amount of involvement = Amount of involvement rate/fixed divider
a.2 Sample Question of Fixed Dividing Method
Determine the full involvement earned past times the cooperative from the tabular array of savings in addition to loan cooperative customers "X" amongst a unmarried involvement charge per unit of measurement i = 9% / year in addition to 1 year is considered 360 days!
Resolution:
Fixed divider = 360/i = 360/9 = 40
To stimulate upward one's heed the publish of involvement rates, regard the tabular array below:
The amount of involvement rates is $17,325,000
B = $17,325,000/40
B = $433,125
So the involvement amount is $433,125
b. Comparable Percent Method
This method is used if a unmarried involvement charge per unit of measurement is non a divisor of 360, 1 year is considered 360 days, involvement charge per unit of measurement i% / year in addition to payback fourth dimension t days.b.1 Formulas of Comparable Percent Method
B = involvement rate/fixed divider
amount of involvement = amount of involvement rates/fixed divider
b.2 Examples Problems of Comparable Percent Methods
Please stimulate upward one's heed the full involvement earned past times the cooperative from the tabular array of savings in addition to loan cooperative customers "Z" amongst a unmarried involvement charge per unit of measurement i = 11%/year in addition to 1 year is considered 360 days!
Resolution:
The involvement charge per unit of measurement i = 11% is outlined to = 10% + 1%
Then i = 10%
Fixed divider = 360 / i
Fixed divider = 360/10
Fixed divider = 36
Amount of involvement charge per unit of measurement = $ 15,850
Amount of involvement = Total involvement charge per unit of measurement / fixed divider
Amount of involvement = $ 15,850,000 / 36
Amount of involvement = $ 440,277.78
Interest is proportional to 1% = (1% / 10%) x $ 440,277.78
Interest is proportional to 1% = $ 44,027.78
So the full involvement of the 11% involvement charge per unit of measurement is = $ 440,277.78 + $ 44,027.78 = 484,305.78.
c. Same Size Percent Method
This method is used if 1 year is considered 365 days, thence in that place are non many tribes that plough over the final result to circular 365, thence normally the involvement charge per unit of measurement is 5% thence the divisor remains = 365/5 = 73c.1 Formula of The Same Size Percent Method
B = involvement rate/73
amount of involvement = amount of involvement rates/73
c.2 Example of Same Size Percent Method
Please stimulate upward one's heed the full involvement earned past times the cooperative from the savings in addition to loan cooperative saving tabular array "T" amongst the involvement charge per unit of measurement i = 6.5%/year in addition to 1 year is considered 365 days!
Resolution:
The involvement charge per unit of measurement i = 6.5% is outlined to endure = 5% + 1.5%
First determined the amount of involvement charge per unit of measurement for i = 5%
Fixed divider = 365/i
Fixed divider = 365/5
Fixed divider = 73
Interest amount = full involvement rate/73
Interest amount = $15,200,000/73
Interest amount = $208,219.18
Interest comparable to 1.5% = (1.5% / 5%) x $208,219.18
Interest comparable to 1.5% = (3/10) x $208,219.18
Interest comparable to 1.5% = $62,465.75
So, the full involvement charge per unit of measurement of 11% = $208,219.18 + $62,465.75
So, the full involvement of the involvement charge per unit of measurement is 11% = $270,684.93
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