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secretsql
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Post subject: calculation |
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| I am trying to get the daily rate for 4.853% and I think I am doing something wrong. My understanding is tho take 4.853% divide by 365, bu this does not look right. |
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Niicss
Joined: 03 Oct 2005
Posts: 2620
Location: New Jersey
409.63 Dollars($)
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Post subject: |
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As far as I know, you will have to divide 4.853% by 365 in order to get the daily simple interest.
_________________
Good is the Enemy of Great. |
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jayalakshmi
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Post subject: calculation of interest |
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Sir,
Kindly help me calculate interest on loan daily basis. i have taken a loan from SBi Bank about Rs. 12500000/- @ the rate of 13% interest. how they calculate interest for this amount.
Regrds,
Jayalakshmi |
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erickinney01
Joined: 02 Aug 2009
Posts: 51
0.00 Dollars($)
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Post subject: |
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Hi jayalakshmi,
Are you not from USA?
Any way formula is
interest for one day = amount * interest rate in % / 36500 |
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Realgeni
Joined: 13 Apr 2009
Posts: 1434
99.77 Dollars($)
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bitten
Guest
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Post subject: Ripoff?? |
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| Is having a loan calculated by daily simple interest a good deal or a bad deal?? |
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Realgeni
Joined: 13 Apr 2009
Posts: 1434
99.77 Dollars($)
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Post subject: |
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bitten
That woudl depend on what you are goign to compare ti with
Fell free to ask |
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anonymous1
Guest
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Post subject: daily interest |
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| what is daily interest on 15,100 @ 4% |
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adonis
Joined: 22 Oct 2005
Posts: 3852
Location: ALASKA
120.89 Dollars($)
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Post subject: |
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Welcome anonymous,
You can check out the given daily simple interest calculator in order to find out the calculation: "http://www.csgnetwork.com/simpleloansdailyintcalc.html"
However, in order to use this calculator, you will have to use Javascript enabled and capable browsers.
_________________
Procrastination is the enemy of your financial sucess |
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brownwalter09
Joined: 10 Aug 2009
Posts: 37
0.72 Dollars($)
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Post subject: |
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daily interest rate = mortgage * interest rate/ 100 / 365
= 15,100 * 4/ 100 / 365
= 1.65 USD
I hope you got the method & reply |
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harrywallace07
Joined: 25 Aug 2009
Posts: 42
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Post subject: |
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hi,
When you know the principal amount, the rate and the time. The amount of interest can be calculated by using the formula:I = Prt |
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jwr
Guest
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Post subject: how do you find the interest factor? |
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| what is the formula used to determine interest factor? |
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 7447
Location: bloomfield, ct
70.06 Dollars($)
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Post subject: |
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after 11 previous posts, i find it hard to believe that someone would come along and ask that question again. i guess some of them were hard to decipher, though.
amount multiplied by rate divided by 365 days (some calculations use 360 days). maybe the numbers are confusing to some.
_________________
George M. Akerley
Loan Consultant
860-221-5044 |
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djbrunow@live.com.au
Guest
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Post subject: interest at 5% on loan of $5000 at repayment of $125 per wee |
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| as above |
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smithsussane
Joined: 18 Sep 2008
Posts: 3738
Location: Alaska
561.45 Dollars($)
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Post subject: |
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Hi djbrunow!
Welcome to forums!
Your question is not clear to me. Can you give some details?
Sussane |
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