[SIZE=3]to all financial and business experts! i need ur help here:[/SIZE]

[SIZE=3]we have business for 7 years now,and union bank offered us bank loans (my line) worth 10million pesos.they gave 2 options payment scheme.one is fixed interest rate for a certain period (ex. 12% interest p.a. for 5 years),the other is flexible terms,no montly obligation/no fix amount(diminishing balance),you can defer payments up to 3 months.if u can pay 10million in 1 year then only interest rate for 1year will apply.i will use the loan for the construction of production plant.I dont know how to compute interest rate of flexible terms,for instance in a 10million loan,how much would be the interest if i decided to give my 1st payment of 500 thousand on the 3rd month?sensya na dami ko tanong newbie lang kasi sa usapang bangko e.[/SIZE]