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:
<iframe src='https://www.easycalculation.com/embedded_simple-interest.php' width='250' height='250' frameborder='0'></iframe>
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:
<iframe src='https://www.easycalculation.com/embedded_simple-interest.php' width='250' height='250' frameborder='0'></iframe>
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