Calculates the debt for a simple interest loan when the number of days of the loan are known.
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.
Calculate the total debt for a 450 loan at 7% for 60 days.
|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.|
If you had repaid 480 after 90 days, what rate are you paying?
These keystrokes assume the values from example 1.
|480||debt||480.00||Stores the debt.|
|90||days||90.00||Stores the days.|
|rate||26.67||Calculates the rate.|