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    KRISIGIRL's Avatar
    KRISIGIRL Posts: 1, Reputation: 1
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    #1

    Sep 3, 2015, 10:16 AM
    What is the formula to calculate interest on accounts receivable at 1.5% monthly the
    What is the formula to calculate interest on accounts receivable at 1.5% monthly the beginning balance is 20191.64
    smoothy's Avatar
    smoothy Posts: 25,492, Reputation: 2853
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    #2

    Sep 3, 2015, 05:38 PM
    Sounds like a homework question...
    ma0641's Avatar
    ma0641 Posts: 15,675, Reputation: 1012
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    #3

    Sep 3, 2015, 06:39 PM
    % X balance.
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #4

    Sep 15, 2015, 11:51 AM
    Interest is equal to Principle times Rate times Time. You have your principle and rate, which is the monthly rate, so your time will be 1/12 for one month out of 12 months in a year. For more than one month just take your monthly interest times the number of months, assuming your principle stays the same.
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