Daily reducing balance : Banknet India


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Name :	Shriprakash Hari Hardikar
Subject:	Daily reducing balance
Message :	I would like to know about the term "Daily reducing balance" Suppose if I take loan of Rs 4,000000/ for 20 years EMI monthely is Rs4404 /.If I pay in next month Rs2,00000/ Then How to calculate the rest principal amount &interest on it.