When drawings are made at the beginning of every month for the full year, interest on drawings is calculated for........... |
One Year 6.5 months 6 months 5.5 months |
6.5 months |
The correct answer is option 2- 6.5 months. When drawings are made at the beginning of every month for the full year, interest on drawings is calculated for 6.5 months. When the amount is withdrawn at the beginning of each month. |