How to Calculate Simple Interest on Loan Payment?

Do you know how to calculate simple interest on your loan payment?

What is Simple Interest?

Simple interest is a method to calculate the interest rate on a loan payment. Interest is always depends on the original amount, so interest on interest is not included.

Formula:

SI Interest = (P * R * T ) / 100

Example:
Let consider a 10 year loan for $7996.235 USD with a rate of 5%. The monthly payment would be $3998 for the simple interest mortgages. The interest due is calculated on monthly.

Simple Interest Calculator:

Use simple interest calculator to estimate your monthly home (or) car loan payment. Simply enter the loan / principle amount, rate of interest rate per annum and time period to estimate your monthly car / home loan payments.

This calculator will help you to calculate the simple interest on your loan payment easily. It is a great resource to calculate the simple interest.

Calculator Source: Simple Interest Calculator

Get this Calculator Widget for your Website / Blog:
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Are You at a Healthy Weight?

Are You at a Healthy Weight? Let's have a look on it...

Where Do You Stand? - BMI

Looking in the mirror or at the tag of your trousers isn't the best way to know if you're at a healthy weight.

Calculate your body-mass index (BMI). You can use one of the many online BMI calculators, such as this one:  https://www.easycalculation.com/health/bmi.php

Where Do You Stand?

• A BMI of 18.25 to 24.9 represents you are a healthy weight.

• A BMI of 25 to 29.9 is overweight, while 30.0 (or) greater is obese.

Check your waist circumference with a tape, without wearing clothing. Place the tape just above your hip around your abdomen.

Men should have a waist circumference of 40 inches or less, while women (not pregnant) should be 35 inches or less.