Calculates the debt for a simple interest loan when the number of days of the loan are known.
Formula: Loan + Loan * (IPct / 100) * (DaysL / 365)
Loan: The loan amount.
i% (IPct): The annual interest rate entered as a percent.
DaysL: The number of days of the loan.
Calculate the total debt for a 4,000 loan at 6% for 207 days.
Value | Keystrokes | Display | Description |
---|---|---|---|
4000 | Loan | 4,000.0000 | Stores the value. |
6 | i% | 6.0000 | Stores the value. |
207 | DaysL | 207.0000 | Stores the value. |
Debt | 4,136.1096 | Calculates the total debt. |
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. |