How to calculate Bank interest

The credit system is so developed that it is almost impossible to imagine life without a single credit loan. In credit to buy almost anything, and use it a lot. But few people think, what is the percentage he will have to pay for borrowed from the Bank amount of money.

Instruction

1. Calculation of percenton the loan s directly based on the first three numbers that form the system of the loan: the amount given to you by the Bank in debt, the period for which you received a loan and percentagerate. In order to calculate the percentage ofs, determine the magnitude of these three components: decide on the amount and term of the loan, ask the Bank the percentageing the rate on your loan.
2. Calculate the actual percentage. To do this, use the following formula: multiply the balance by the interest rate on the loan and on the number of calendar days in the month, the resulting figure will be divided by 365 days. Turn the number into a percentageyou multiply it by 100. This will be the overpaid amount of the banking organization for the month. Don't forget that in addition to the percentageyou s a monthly return to the Bank and even the principal debt. For calculations you can apply another formula: multiply the loan amount to percentageing the rate and number of months on which you took the loan. Add unit. The resulting number, divide by 24 and multiply by 100 to get the percentage.
3. The rate of interest can be calculated faster if you slightly automate the process. Use the Excel spreadsheet in columns which make the following figures: months, the balance of the debt and the percentage ofs. The formula for calculating the percentagefor each month will be as follows: (the balance of the debt * percentrate * number of days in month)/(365 * 100%).
4. It is easier just to learn the banking the percentagecalculator on the website of the Bank. Now such calculators is almost every Bank and are mostly used when you need to calculate mortgage percentage. In the field online calculator, entered some numbers, which determine the term of the loan, its value, your capabilities and the conditions of repayment to the Bank. Also determine the system of refund: annuity payments are or will be differentiated. If you are going to repay the loan the differentiated payment mortgage calculator will also make you a schedule of payments. Please note that the calculators on Bank websites I believe the percentage is approximately the exact same amount you tell the Bank employee after consideration of your application for credit.