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.
|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.
|4200||debt||4,200.0000||Stores the value.|