Good morning everyone,
One of the modules in the project I am currently working on is used to calculate interest payable on a loan. This would be easy for me to do if it were based on a simple interest rate... but it isn't.
If my interest were calculated on the basis of X Amount per Y Amount per Z Time, how would I calculate? As an example, let's say that interested is calculated on the basis of 65 cents per 80 dollars per week. If the loan were for 290 dollars and a duration of 9 days, how would I write the formula to calculate the interest?