Formula for interest expenses= residual debt* interest rate so why did we use this instead ending debt*interest rate
4 answers ( 0 marked as helpful)
you can safely assume that residual debt and ending debt balance are the same thing.
You then multiply it by the relevant interest rate to get the periodic interest expense.
I hope this answers your question.
The 365 Team
How do i get my bonus
How do i can get my bonus?