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HOW TO PRO-RATE SIMPLE INTEREST - BUSINESS MANAGEMENT & FINANCE - ICAEW - ICAN- ACCA-FINANCIAL MATHS



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HOW TO CALCULATE SIMPLE INTEREST PRO-RATA -FINANCIAL MATHEMATICS MADE SIMPLE | | SIMPLE & COUNPOUND INTEREST CALCULATION | ANNUAITY & SINKING FUND | FINANCE | FINANCIAL AND CAPITAL MARKET | MONEY MARKET | INVESTMENT | WEALTH CREATION | HOW SIMPLE INTEREST CAN BE PRORATED IS WHAT WE WANT TO LOOK AT NOW IF YOU ARE FOLLOWING US WE HAD EARLIER LOOK AT SIMPLE INTEREST WITHOUT PRORATING IT BUT IT'S POSSIBLE THAT WE PRORATE IT THAT COULD BE NEED TO OPERATE SIMPLE INTEREST AND THAT IS WHAT WE WANT TO DO WITHOUT COMPLICATION ON DIGIMS ASSOCIATE CHANNEL SO LET US GO INTO HOW TO COM HOW TO COMPUTE THROUGH EMPLOYEES SIMPLE INTERESTS WE HAD ALREADY USED AN EXAMPLE AND WE ARE GOING TO CONTINUE WITH THAT EXAMPLE AND THE EXAMPLE WE USED LAST TIME THAT WE SHOT A VIDEO WAS THAT A BORROWER TOOK A LOAN OF 10 000 IT COULD BE NAIRA EUROPA STERLING DOLLAR OR ANYWHERE YOU ARE LISTENING TO ME FROM ANY PARTS OF THE WORLD THE 10 000 NAIRA IS FOR THREE YEARS DURATION AT THE RATE OF 10 PERCENT EVERYTHING IS EASY RIGHT 10 10 AND THREE FOR THREE YEARS AND WE HAD MADE A VIDEO ABOUT THAT SO IF YOU ARE NOT PART OF US THEN YOU CAN LOOK IT UP I'M GOING TO PUT IT IN THE DESCRIPTION AND HOP HERE TOO SO LOOK IT UP NOW HOW SHOULD WE NOT PROVATE THAT SO WE ARE CONTINUING WITH THE EXAMPLE THE PRINCIPLE IS WHAT TEN THOUSAND SO SIMPLE INTEREST IS P THAT IS SIMPLE INTEREST NOW WE WANT TO CALCULATE IT IF YOU REMEMBER IS EQUAL TO CLASS THE PRINCIPAL MULTIPLIED BY INTO BRACKETS ONE LOSS OKAY THE RATES ARE MULTIPLIED BY MULTIPLIED BY THE YEAR THE NUMBER OF YEAR AND I HOPE THIS IS GOTTEN SO THIS IS THE FORMULA BUT WE ARE GOING TO GO FIRST OF ALL BY LAYMAN UH CALCULATION THEN WE USE THIS FORMULA TOO SO NOW WE WANT TO PRORATE WITHIN A YEAR SO WE'LL SAY OUR SP THAT IS SIMPLE INTEREST IS EQUAL TO YOU KNOW
OUR PRINCIPAL WAS TEN THOUSAND SO WE ARE STILL USING THE EXAMPLE OF 10 000 INTO BRACKETS THAT IS WE ARE MULTIPLYING IT WE HAVE OUR ONE THAT IS CONSTANTS PLUS WE SAID OUR RATE IS WHAT NOW OUR RATE IS 10 ORDINARILY IS 10 CENTS AND THE NUMBER OF YEAR NOW LET'S FLOW RATE FOR JUST ONE YEAR WE'RE JUST PROLATING FOR ONE YEAR TO MAKE IT EASIER NOW OKAY SO MULTIPLIED BY A YEAR WHICH IS ONE NOW BECAUSE WE HAVE TO GO BY THAT THREE YEARS THAT'S GOING TO COMPLICATE IT AND YOU KNOW WHAT WE'VE AGREED THAT THE TENSE OF THIS WORD IF WELL APPROACHED THEY ARE NOT COMPLICATED SO WE ARE NOT COMPLICATING WE ARE PRORATING NOW LET'S SAY WE WANT TO CREATE FOR EIGHT MONTHS OUT OF THE YEAR THAT IS WE WANT TO KNOW WHAT WE SHOULD RETURN WITHIN FOR EIGHT MONTHS OUT OF 12 CALENDAR YEAR DO WE UNDERSTAND SO NOW WE WILL SAY OUR ST IS EQUAL TO AND THIS KNOWLEDGE IS VERY USEFUL FOR ENTREPRENEUR SO KNOW ABOUT YOUR BANK LOANS AND THE LIKE SO WE ARE OPERATING FOR EIGHT MONTHS SO WE'LL SAY OUR ONE WHICH IS USUALLY CONSTANT THEN WE HAVE EIGHT PLUS THAT'S PLUS RIGHT IT'S DIVIDED BY 12 FIGURE MEASURES PLEASE THEY'RE READY TIMES THAT'S MULTIPLICATION TIMES OUR OUR RATE WHICH IS 0.1 I HOPE YOU UNDERSTAND THUS IF YOU TEN PERCENT IS 0.1 OR 0.10 MULTIPLIED BY.....
ICAN BUSINESS MANAGMENTR AND FINANCE IN THIS FINANCE & ACCOUNTING GJAMES ASSOCIATES' WORLD VIDEO, GBENGA OLATUNJI OF GJAMES ASSOCIATES EXPLAINS CA ICAN, ICAEW EXAM TOPICS & HOW TO PASS SUCCESS TIPS. FINANCE & ACCOUNTING |FINANCE & INVESTMENT EDUCATION | ICEAW | ICAN |ACCA| | CA EXAMS ICAN |CPA I CAG |MIPA|CFI|ICMAB|PICPA|IFA|ICASL|ICAB|CAANZ|CIMA|CIPFA|AAT|AICPA|AIA|ANAN|BICA|CGA| ATSWA| CIMA | CA ANZ | CAI | ICAM | IAI | ISCA | CAEW | ICAB | ICAI | ICAP | ICAS |CA SRI LANKA | ICAZ |SDAICA |ZICA
THIS VIDEO IS CERTAINLY FOR STUDENTS PREPARING FOR THE ICAN PROFESSIONAL LEVEL EXAMINATION (STUDENTS OF THE INSTITUTE OF CHARTERED ACCOUNTANTS NIGERIA(ICAN)) STUDYING CSME, CORPORATE STRATEGY, MANAGEMENT AND ETHICS, GOVERNANCE AND BUSINESS MANAGEMENT AND INFORMATION SYSTEMS, FR, FA, CR ETC.

GBENGA OLATUNJI IS A TRAINED AND CERTIFIED LECTURER WITH MANY YEARS OF EXPERIENCE BOTH IN THE CORPORATE WORLD AND THE EDUCATION INDUSTRY. HE IS THE MANAGING PARTNER AT GBENGA OLATUNJI & CO. AND TRAINING PARTNER, GJAMES ASSOCIATES, A PUBLISHED AUTHOR OF TWO (2) LIFE ENHANCING BOOKS. THE GIFT: YOUR REWARDING WAY TO FULFILMENT AND RELEVANCE AND YOU ARE PRECIOUS: KNOWING YOUR TRUE SELF
THE OBJECTIVE OF THIS COURSE IS TO TURN YOU INTO A BUSINESS STRATEGIST AND FUNCTION AT THE MANAGEMENT AND EXECUTIVE LEVEL OF BUSINESS ORGANISATIONS. ALSO, PASSING YOUR ICAN EXAMS AND ALL CHARTERED ACCOUNTANTS EXAMS WITH EASE
FOR YOUR IN HOUSE TRAINING, BUSINESS AND PERSONAL ADVISORY SERVICES
CONTACT: GJAMES ASSOCIATES ON
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E-MAIL: [email protected]
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