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.

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. |

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. |