A Simple Interest Worksheet can be used to calculate simple interest rates that you will need to calculate your loan amount by using the Annual Percentage Rate (APR) in a simple manner. This worksheet is a great way to do a quick and easy calculation and is also very easy to fill out and print out.
You must first decide how much you are willing to borrow, how much you can afford to pay each month and what interest rate you would like to receive on the loan. Once you have all of this information it is time to figure out the percentage of interest you will pay on the loan and multiply that number by the loan balance to determine your Loan Interest Rate (LIR). This amount is then multiplied by the Annual Percentage Rate (APR) to calculate your monthly payment.
Once you have determined the loan amount, interest rate, and the number of months the loan will take to pay off, the next step is to multiply this number by your Monthly Payment so that you can determine your Monthly Due Payment. If you are applying for a personal loan or another loan, you will need to figure out a balance that you can afford and work from there.
This next worksheet will help you get your calculations done quickly. It calculates your Monthly Interest Rate (MIR) and your Annual Percentage Rate (APR) and shows the corresponding interest rates. The MIR is calculated based on the total amount of the loan with the interest factor used as the principal and the interest rate is calculated based on the Loan Principal.
Once you get your calculations done, you will need to work with the Simple Interest Worksheet. In this worksheet, you will find the Federal Tax, your Modified Adjusted Gross Income (MAGI), your Federal Credit Card Interest, and other terms such as the Principal Amount, Fixed Rates, and Annual Percentage Rate (APR). Once you have all of these worked out, you will then use the Margin Methodto finds the Total of the Interest Paid on the loan.
This work sheet will also show you how much of the principal is left and how much you will pay for the remaining amount. You will then use the Loan Interest Factor to figure out how much of the remaining interest is yours.
Finally, you will then add the Loan Principal to the Interest Factor to calculate the Balance and find the Annual Percentage Rate. You can then continue on to the last worksheet in the worksheet.
On this worksheet, you will find the Balance, Interest Factor, Principal Amount, and Debt to Income ratio that is calculated based on the Balance of the loan and interest paid on the loan. Using this worksheet will allow you to make a quick and easy calculation of your monthly payments for a loan and to get your calculations completed quickly.
