— Caitlyn Bundey @ 2:59 pm — 
October 12, 2010Instructions
- 1
Use the MoneyChimp online calculator to compute simple interest of your credit account. Enter the starting principal, or amount you borrowed, the length of the loan in years and the agreed-upon interest rate. You’ll receive the simple interest expense to be paid. This calculator includes the interest and principal amount in the result — just subtract the principal amount from the total future value to get the interest expense. The website also offers an explanation of how you can determine simple interest with a formula by hand.
- 2
Determine the simple interest expense due on your loan using WebMATH. Enter the details of the loan, including the amount you’re borrowing, interest rate and number of years, then click “Find the amount of interest.” The calculator displays the result as well as an explanation of how it determined that figure.
- 3
Compute simple interest of your credit account online using Vertex42 calculator. Enter the principal amount and annual rate of the loan. This tool allows you to enter the length of the loan, including years, months and days. When you press “Calculate Interest,” the amount of interest expense displays in the box below the calculator.
Similar Posts:
- How to Calculate a Loan Payoff With an Additional Principal Payment
- Using Auto Loan Calculators Advantageously
- 4 Types of Debt Calculators
- What is capitalized interest?
- Is Your Offset Worth It?
Sorry, no comments yet.