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Where part of the year is involved in the period for which interest is to be computed, interest computed for any amount @ 15 percent per year is not the same as interest computed @ 1.25 percent per month.
COMPUTATION OF SIMPLE INTEREST
* All Fields are mandatory
Interest period starts on:
Select Day & Month and enter Year
Interest period ends on:
Select Day & Month and enter Year
Select Day
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Select Month
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Select Day
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Select Month
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Principal Amount
Interest Rate %
Select Interest Rate Category
Percent per year
Percent per month
Percent per day
Please do not fill in entry boxes below. These entry boxes are meant for results.
Conversion of Period in Days, Months & Years
Duration of Total Period In Days
In Months
In Years
Amount of Interest & Total Amount including Amount of Interest
Amount of Interest
Total Amount including Interest
NOTES
1. Leap Year, if any, has been taken into account.
2. Number of Months has been calculated as calendar months.
3. Number of months or years have been computed upto three decimal places.