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Simple Interest Loan Calculator - Days

Calculates the debt for a simple interest loan when the number of days of the loan are known.

screenshot

loan: The loan amount.
rate : The annual interest rate entered as a percent.
days: The number of days of the loan.
basis : The days basis, 360 or 365 days.

Example 1

Calculate the total debt for a 450 loan at 7% for 60 days.

Value Keystrokes Display Description
450 loan 450.00 Stores the loan amount.
7 rate 7.00 Stores the annual rate.
60 days 60.00 Stores the number of days.
360 basis 360.00 Stores the days basis.
  Debt 455.25 Calculates the total debt.

Example 2

If you had repaid 480 after 90 days, what rate are you paying?

These keystrokes assume the values from example 1.

Value Keystrokes Display Description
480 debt 480.00 Stores the debt.
90 days 90.00 Stores the days.
  rate 26.67 Calculates the rate.