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Simple Interest Loan Calculator - Actual

Calculates the debt for a simple interest loan for the actual number of days between dates.


Formula: Loan + Loan * (IPct / 100) * (days(DateS, DateE) / 365)

Loan: The loan amount.

i% (IPct): The annual interest rate entered as a percent.

DateS: The start date in YYYYMMDD format.

DateE: The end date in YYYYMMDD format.

Date Entry

CALC 1 uses the ISO 8601 YYYYMMDD format for entering dates. This is a common date format that most users around the world are familiar with.

For example, April 28, 2004 is entered as 40428. June 4, 2018 is entered as 180604.

Date Entry Shortcuts

If you omit the first two years (the century) of YYYY, CALC 1 will use the current century, 20. This is a common truncated representation.

If you omit the entire YYYY, CALC 1 will use the current year.

Example 1

Calculate the total debt for a 4,000 loan at 6% for that starts 2011-01-05 and is due 2011-07-31.


Value Keystrokes Display Description
4000 Loan 4,000.0000 Stores the value.
6 i% 6.0000 Stores the value.
110105 DateS 110,105.0000 Stores the value.
110731 DateE 110,731.0000 Stores the value.
  Debt 4,136.1096 Calculates the total debt.

Example 2

If you had 4,200 available to repay, what could you borrow?

These keystrokes assume the values from example 1.

Value Keystrokes Display Description
4200 debt 4,200.0000 Stores the value.
  Loan 4,061.7879 Calculates Loan.