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How to calculate interest on drawings if a partner draws in the beginning of each quarter for 6 months? |
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Answer» Answer: Hey USUALLY when date of DRAWINGS is not given. Interest on Drawing = Total Drawings x Rate/100 x 6/12. For MONTHLY drawings for 6 months: Drawings are made in beginning of each month Interest = Amount x Rate/100 x 3/12. Hope It Helps |
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