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Definition of Relative Interest Rate Calculation

Definition of Relative Interest Rate Calculation

Definition of Relative Interest Rate Calculation

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Use annualized interest rate when performing relative interest rate calculation.

000001.gif Having entered both monthly AND annual interest rates in the table, ONLY the annual is used in relative interest rate calculation. The monthly rate is ignored. Both interest rates are used only in effective interest rate calculation (see Annual and Monthly Interest Rate).

Below you can observe an example of default interest:

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000001.gif It is wise to use the basic interest rate (BIR) and default interest (ZO) ONLY when calculating efferctive interest rate. It is here that they complement each other. To perform the benchmark calculation of default interest using the same data (principal, interest rates and the interest period) and effective interest rate see Annual Interest Rate.

 008252.gif

000001.gif The factor is displayed rounded up to 6 decimal points, but this does not mean that calculations will be performed using the rounded factor value!!

 

Calculation of principal including interest:

 

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