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- 15 Apr 2024, 18:12
- Forum: IFRS-related topics
- Topic: Compound versus accrued interest?
- Replies: 2
- Views: 553
Compound versus accrued interest?
How to do you know whether the loan schedule should use the formula for compounding interest (loan balance outstanding * ((1+interest rate)^(days/365)-1) instead of accruing interest? (principal only outstanding*interest rate*days/365)?