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Flat Rate Cost
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Effective Rate of Interest for given Flat Rate
This tool converts given Flat Rate into Effective Monthly reducing Rate.
The Effective Rate of Interest depends on the quoted Flat Rate and the Tenure of Loan.
Input
Repayment period (years)
Simple(Flat interest rate %)
Processing Charges(% of loan)
Result
The effective rate of interest (monthly reducing) comes out to be
%
The IRR comes out to be
%