Please help me with the following code…
for i=1 to “No. of expected interest period” do begin
“carrying value”:=1000000;
Interest:=(“Effective Interest”*“Carrying Value”)/100;
Amortization:=“Expected Interest Amount”-Interest;
“Carrying Value”:=“Current Value”-Amortization;
end;
Having made the required definitions prior to this code i was not able to get the desired results. I expected the “carrying value” to decrement by the value of amortization and the new value is used for calculation of Interest.
please help. agent.