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Simple Loan Calculator
Simple Loan Calculator
CRED
calculators
simple loan calculator
simple loan calculator
a simple loan calculator is a handy tool available online that enables you to
calculate your EMI amount with much ease. the calculator will show you the interest
amount earned for the loan tenure and the principal amount too.
loans
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loan amount
₹
1000000
rate of interest
8.5
%
loan terms
10
years
monthly payment
₹12,399
total amount:₹14,87,880
principal amount
₹10,00,000
total interest
₹4,87,880
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how to calculate simple interest?
the simple interest calculator is a simple and easy online tool to calculate the
interest amount. to calculate the simple interest, you need to input three
essential details in the simple loan calculator -
principal amount
time period
interest rate
put the values in the following formula -
a = p(1 + (r*t))
where,
a = amount
p = principal
r = interest rate
t = time
for example, you make an investment of ₹15,000 for two years at a 5% rate.
= 1,500
so,
a = 15,000 + 1,500
= ₹16,500.
you have to calculate the interest amount you will have to pay if you have borrowed
the money.
if you have lent money to someone else, you can calculate the interest amount
easily using the formula.
in case you have invested money in saving fd, ppf, ssy, rd, or other saving
schemes, you can right away calculate the interest.
how simple loan calculator can help you?
a simple interest calculator is an online tool that makes your simple interest
calculations easy. unlike traditional calculators, the simple interest EMI
calculator can display the results of complex figures instantly.
the following points explain how a simple loan calculator can help you -
once you have entered the values in a simple interest calculator, the amortisation
schedule gives you a comprehensive table showing the principal amount, interest
earned, and the amount at the end of the month. it allows you to map your financial
planning. a short period of amortisation means increased regular payments, whereas
a longer period of amortisation implies a reduction in regular principal and
interest due to the spreading of payments.
simple interest EMI calculator: simple loan calculator lets you calculate the
amount you will receive at the maturity period. the amount so calculated using the
simple interest calculator includes the interest amount along with the principal.
the formula for calculation: a = p(1 + (r*t))
personal loan calculator: personal loan calculator allows you to calculate your EMI
using variables like the amount borrowed, interest rate, and loan tenure. you can
also find a suitable EMI using the personal loan calculator. the formula for
calculation is - EMI = [p x (r/100) x {1+(r/100)}^n]/[{1+(r/100)}^(n-1)]
home loan calculator: home loan calculator makes it easy to estimate EMI using
variables like the amount borrowed, interest rate, and loan tenure. it also shows
total principal and interest payable along with the amortization schedule. the
formula for calculation is: EMI = [p x r x (1+r)^n]/[(1+r)^n-1]
education loan calculator: you can easily calculate your education loan using an
education loan calculator. all you need are the details like the amount borrowed,
interest rate, and loan tenure to calculate your monthly EMI. the formula for
calculation is: EMI = [p x r x (1+r)^n]/[(1+r)^n-1]
car loan calculator: the car loan calculator helps you determine your EMIs you pay
to your lender. you need to input details like the amount borrowed, interest rate,
and loan tenure to calculate your monthly EMI. the formula used is: EMI = [p x r x
(1+r)^n]/[(1+r)^n-1]
simple loan calculator faqs
what is a simple interest calculator?
a simple loan calculator allows you to calculate the accrued amount (a) you will
have in your hand after the specific time period (t). it includes the interest
amount along with the principal.
a = p(1 + (r*t))
here,
a = amount
p = principal
r = interest rate
t = time
what variables are required to calculate the EMI using the EMI calculator?
the values you need to calculate the EMI of your loan are:
loan tenure
interest rate
loan amount
does interest amount change over time in simple interest?
no, it doesn't. the interest amount stays constant, unlike compound interest.