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Net Interest = [(principal x rate x days) / 365]*0.8
0.8 comes from 1 minus 20% withholding tax
For illustration: P2,630 = [(P1 million x 0.04 x 30) / 365 ]* 0.8.
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Net Interest = [(principal x rate x days) / 365]*0.8
0.8 comes from 1 minus 20% withholding tax
For illustration: P2,630 = [(P1 million x 0.04 x 30) / 365 ]* 0.8.