Calculates the total debt for a simple annual interest loan for the days between dates based on the European 360 method.
Formula: Loan + Loan * (IPct / 100) * (days360(DateS, DateE, euro) / 360)
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.
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.
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.
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 | 4,136.6667 | 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 | 4,061.2409 | Calculates Loan. |