TWO-FIGURE TABLE LOAN PAYMENT RETURN FOR NIGERIAN AGRICULTURAL COOPERATIVE SOCIETIES

AN ENGINEERING PROJECTS PROCUREMENT TOOL

Abstract

This research came about on the thought of how to assist farmers and engineers on payment plan schedule for payment return on agricultural incentives and machinery procurement loans. The paper work aimed at generating Two-Figure Table handbook for the membership of the Nigerian Co-operative Societies for any loan obtained at various interest rates. It later generated to generalizing it to the various Nigeria workers’ cooperative societies since most of the societies are operating on the same styles and principles. The generated results from the principal loan made use of standard figures which break at every 10th multiple while the interest were generally computed on the basis of simple interest at any given interest rate with selection bases of 0.5% interval up to 30%. The research package had a loan payment return schedule ranges from 3 Months to 36 Months.