Simple Interest Loan Calculator

Borrower: [Lender Name] Simple Interest Loan Calculator

[Address, City, ST ZIP] [Address, City, ST ZIP] © 2008-2018 Vertex42 LLC
Phone: [Phone] Phone: [Phone]

Loan Information [42] Summary See the Help worksheet for instructions.
Loan Amount $ 100,000.00 Daily Interest Rate 0.01643836%
Annual Interest Rate 6.00% Number of Payments 180 This spreadsheet is for Personal Use Only.
You may purchase a commercial license if
Term of Loan in Years 15 Total Payments 151,837.79
you are a lender or are using the
Loan Issue Date 1/1/2018 Total Interest 51,837.79 spreadsheet for business.
First Payment Date 2/1/2018 Balloon Payment -
Payment Frequency Monthly . Purchase the Commercial Version
Days in Year 365
Balloon Payment #
Rounding On 1

Est. Monthly Payment $ 844.64 (estimate)

Actual Monthly Payment 0

Amortization Schedule
Pmt Payment Interest Interest Principal Principal Total
Date
No. Due Accrued Balance Paid Balance Owed
1/1/18 100,000.00 100,000.00
1 2/1/18 844.64 509.59 0.00 335.05 99,664.95 99,664.95
2 3/1/18 844.64 458.73 0.00 385.91 99,279.04 99,279.04
3 4/1/18 844.64 505.92 0.00 338.72 98,940.32 98,940.32
4 5/1/18 844.64 487.92 0.00 356.72 98,583.60 98,583.60
5 6/1/18 844.64 502.37 0.00 342.27 98,241.33 98,241.33
6 7/1/18 844.64 484.48 0.00 360.16 97,881.17 97,881.17
7 8/1/18 844.64 498.79 0.00 345.85 97,535.32 97,535.32
8 9/1/18 844.64 497.03 0.00 347.61 97,187.71 97,187.71
9 10/1/18 844.64 479.28 0.00 365.36 96,822.35 96,822.35
10 11/1/18 844.64 493.40 0.00 351.24 96,471.11 96,471.11
11 12/1/18 844.64 475.75 0.00 368.89 96,102.22 96,102.22
12 1/1/19 844.64 489.73 0.00 354.91 95,747.31 95,747.31
13 2/1/19 844.64 487.92 0.00 356.72 95,390.59 95,390.59
14 3/1/19 844.64 439.06 0.00 405.58 94,985.01 94,985.01
15 4/1/19 844.64 484.03 0.00 360.61 94,624.40 94,624.40
16 5/1/19 844.64 466.64 0.00 378.00 94,246.40 94,246.40
17 6/1/19 844.64 480.27 0.00 364.37 93,882.03 93,882.03
18 7/1/19 844.64 462.98 0.00 381.66 93,500.37 93,500.37
19 8/1/19 844.64 476.47 0.00 368.17 93,132.20 93,132.20
20 9/1/19 844.64 474.59 0.00 370.05 92,762.15 92,762.15
21 10/1/19 844.64 457.46 0.00 387.18 92,374.97 92,374.97
22 11/1/19 844.64 470.73 0.00 373.91 92,001.06 92,001.06
23 12/1/19 844.64 453.70 0.00 390.94 91,610.12 91,610.12
24 1/1/20 844.64 466.84 0.00 377.80 91,232.32 91,232.32
25 2/1/20 844.64 464.91 0.00 379.73 90,852.59 90,852.59
26 3/1/20 844.64 433.11 0.00 411.53 90,441.06 90,441.06
27 4/1/20 844.64 460.88 0.00 383.76 90,057.30 90,057.30
28 5/1/20 844.64 444.12 0.00 400.52 89,656.78 89,656.78
29 6/1/20 844.64 456.88 0.00 387.76 89,269.02 89,269.02
30 7/1/20 844.64 440.23 0.00 404.41 88,864.61 88,864.61
31 8/1/20 844.64 452.84 0.00 391.80 88,472.81 88,472.81
32 9/1/20 844.64 450.85 0.00 393.79 88,079.02 88,079.02
33 10/1/20 844.64 434.36 0.00 410.28 87,668.74 87,668.74
34 11/1/20 844.64 446.75 0.00 397.89 87,270.85 87,270.85
35 12/1/20 844.64 430.38 0.00 414.26 86,856.59 86,856.59
36 1/1/21 844.64 442.61 0.00 402.03 86,454.56 86,454.56
37 2/1/21 844.64 440.56 0.00 404.08 86,050.48 86,050.48
38 3/1/21 844.64 396.07 0.00 448.57 85,601.91 85,601.91
39 4/1/21 844.64 436.22 0.00 408.42 85,193.49 85,193.49
40 5/1/21 844.64 420.13 0.00 424.51 84,768.98 84,768.98
41 6/1/21 844.64 431.97 0.00 412.67 84,356.31 84,356.31
42 7/1/21 844.64 416.00 0.00 428.64 83,927.67 83,927.67
43 8/1/21 844.64 427.69 0.00 416.95 83,510.72 83,510.72
44 9/1/21 844.64 425.56 0.00 419.08 83,091.64 83,091.64
45 10/1/21 844.64 409.77 0.00 434.87 82,656.77 82,656.77
46 11/1/21 844.64 421.21 0.00 423.43 82,233.34 82,233.34
47 12/1/21 844.64 405.53 0.00 439.11 81,794.23 81,794.23
48 1/1/22 844.64 416.81 0.00 427.83 81,366.40 81,366.40
49 2/1/22 844.64 414.63 0.00 430.01 80,936.39 80,936.39
50 3/1/22 844.64 372.53 0.00 472.11 80,464.28 80,464.28
51 4/1/22 844.64 410.04 0.00 434.60 80,029.68 80,029.68
52 5/1/22 844.64 394.67 0.00 449.97 79,579.71 79,579.71
53 6/1/22 844.64 405.53 0.00 439.11 79,140.60 79,140.60
54 7/1/22 844.64 390.28 0.00 454.36 78,686.24 78,686.24
55 8/1/22 844.64 400.98 0.00 443.66 78,242.58 78,242.58
56 9/1/22 844.64 398.72 0.00 445.92 77,796.66 77,796.66
57 10/1/22 844.64 383.65 0.00 460.99 77,335.67 77,335.67
58 11/1/22 844.64 394.09 0.00 450.55 76,885.12 76,885.12
59 12/1/22 844.64 379.16 0.00 465.48 76,419.64 76,419.64
60 1/1/23 844.64 389.43 0.00 455.21 75,964.43 75,964.43
61 2/1/23 844.64 387.11 0.00 457.53 75,506.90 75,506.90

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 Pmt Payment Interest Interest Principal Principal Total
Date
No. Due Accrued Balance Paid Balance Owed
62 3/1/23 844.64 347.54 0.00 497.10 75,009.80 75,009.80
63 4/1/23 844.64 382.24 0.00 462.40 74,547.40 74,547.40
64 5/1/23 844.64 367.63 0.00 477.01 74,070.39 74,070.39
65 6/1/23 844.64 377.45 0.00 467.19 73,603.20 73,603.20
66 7/1/23 844.64 362.97 0.00 481.67 73,121.53 73,121.53
67 8/1/23 844.64 372.62 0.00 472.02 72,649.51 72,649.51
68 9/1/23 844.64 370.21 0.00 474.43 72,175.08 72,175.08
69 10/1/23 844.64 355.93 0.00 488.71 71,686.37 71,686.37
70 11/1/23 844.64 365.31 0.00 479.33 71,207.04 71,207.04
71 12/1/23 844.64 351.16 0.00 493.48 70,713.56 70,713.56
72 1/1/24 844.64 360.35 0.00 484.29 70,229.27 70,229.27
73 2/1/24 844.64 357.88 0.00 486.76 69,742.51 69,742.51
74 3/1/24 844.64 332.47 0.00 512.17 69,230.34 69,230.34
75 4/1/24 844.64 352.79 0.00 491.85 68,738.49 68,738.49
76 5/1/24 844.64 338.98 0.00 505.66 68,232.83 68,232.83
77 6/1/24 844.64 347.71 0.00 496.93 67,735.90 67,735.90
78 7/1/24 844.64 334.04 0.00 510.60 67,225.30 67,225.30
79 8/1/24 844.64 342.57 0.00 502.07 66,723.23 66,723.23
80 9/1/24 844.64 340.01 0.00 504.63 66,218.60 66,218.60
81 10/1/24 844.64 326.56 0.00 518.08 65,700.52 65,700.52
82 11/1/24 844.64 334.80 0.00 509.84 65,190.68 65,190.68
83 12/1/24 844.64 321.49 0.00 523.15 64,667.53 64,667.53
84 1/1/25 844.64 329.54 0.00 515.10 64,152.43 64,152.43
85 2/1/25 844.64 326.91 0.00 517.73 63,634.70 63,634.70
86 3/1/25 844.64 292.89 0.00 551.75 63,082.95 63,082.95
87 4/1/25 844.64 321.46 0.00 523.18 62,559.77 62,559.77
88 5/1/25 844.64 308.51 0.00 536.13 62,023.64 62,023.64
89 6/1/25 844.64 316.07 0.00 528.57 61,495.07 61,495.07
90 7/1/25 844.64 303.26 0.00 541.38 60,953.69 60,953.69
91 8/1/25 844.64 310.61 0.00 534.03 60,419.66 60,419.66
92 9/1/25 844.64 307.89 0.00 536.75 59,882.91 59,882.91
93 10/1/25 844.64 295.31 0.00 549.33 59,333.58 59,333.58
94 11/1/25 844.64 302.36 0.00 542.28 58,791.30 58,791.30
95 12/1/25 844.64 289.93 0.00 554.71 58,236.59 58,236.59
96 1/1/26 844.64 296.77 0.00 547.87 57,688.72 57,688.72
97 2/1/26 844.64 293.98 0.00 550.66 57,138.06 57,138.06
98 3/1/26 844.64 262.99 0.00 581.65 56,556.41 56,556.41
99 4/1/26 844.64 288.21 0.00 556.43 55,999.98 55,999.98
100 5/1/26 844.64 276.16 0.00 568.48 55,431.50 55,431.50
101 6/1/26 844.64 282.47 0.00 562.17 54,869.33 54,869.33
102 7/1/26 844.64 270.59 0.00 574.05 54,295.28 54,295.28
103 8/1/26 844.64 276.68 0.00 567.96 53,727.32 53,727.32
104 9/1/26 844.64 273.79 0.00 570.85 53,156.47 53,156.47
105 10/1/26 844.64 262.14 0.00 582.50 52,573.97 52,573.97
106 11/1/26 844.64 267.91 0.00 576.73 51,997.24 51,997.24
107 12/1/26 844.64 256.42 0.00 588.22 51,409.02 51,409.02
108 1/1/27 844.64 261.97 0.00 582.67 50,826.35 50,826.35
109 2/1/27 844.64 259.01 0.00 585.63 50,240.72 50,240.72
110 3/1/27 844.64 231.24 0.00 613.40 49,627.32 49,627.32
111 4/1/27 844.64 252.90 0.00 591.74 49,035.58 49,035.58
112 5/1/27 844.64 241.82 0.00 602.82 48,432.76 48,432.76
113 6/1/27 844.64 246.81 0.00 597.83 47,834.93 47,834.93
114 7/1/27 844.64 235.90 0.00 608.74 47,226.19 47,226.19
115 8/1/27 844.64 240.66 0.00 603.98 46,622.21 46,622.21
116 9/1/27 844.64 237.58 0.00 607.06 46,015.15 46,015.15
117 10/1/27 844.64 226.92 0.00 617.72 45,397.43 45,397.43
118 11/1/27 844.64 231.34 0.00 613.30 44,784.13 44,784.13
119 12/1/27 844.64 220.85 0.00 623.79 44,160.34 44,160.34
120 1/1/28 844.64 225.04 0.00 619.60 43,540.74 43,540.74
121 2/1/28 844.64 221.88 0.00 622.76 42,917.98 42,917.98
122 3/1/28 844.64 204.60 0.00 640.04 42,277.94 42,277.94
123 4/1/28 844.64 215.44 0.00 629.20 41,648.74 41,648.74
124 5/1/28 844.64 205.39 0.00 639.25 41,009.49 41,009.49
125 6/1/28 844.64 208.98 0.00 635.66 40,373.83 40,373.83
126 7/1/28 844.64 199.10 0.00 645.54 39,728.29 39,728.29
127 8/1/28 844.64 202.45 0.00 642.19 39,086.10 39,086.10
128 9/1/28 844.64 199.18 0.00 645.46 38,440.64 38,440.64
129 10/1/28 844.64 189.57 0.00 655.07 37,785.57 37,785.57
130 11/1/28 844.64 192.55 0.00 652.09 37,133.48 37,133.48
131 12/1/28 844.64 183.12 0.00 661.52 36,471.96 36,471.96
132 1/1/29 844.64 185.86 0.00 658.78 35,813.18 35,813.18
133 2/1/29 844.64 182.50 0.00 662.14 35,151.04 35,151.04
134 3/1/29 844.64 161.79 0.00 682.85 34,468.19 34,468.19
135 4/1/29 844.64 175.65 0.00 668.99 33,799.20 33,799.20
136 5/1/29 844.64 166.68 0.00 677.96 33,121.24 33,121.24
137 6/1/29 844.64 168.78 0.00 675.86 32,445.38 32,445.38
138 7/1/29 844.64 160.00 0.00 684.64 31,760.74 31,760.74
139 8/1/29 844.64 161.85 0.00 682.79 31,077.95 31,077.95
140 9/1/29 844.64 158.37 0.00 686.27 30,391.68 30,391.68
141 10/1/29 844.64 149.88 0.00 694.76 29,696.92 29,696.92
142 11/1/29 844.64 151.33 0.00 693.31 29,003.61 29,003.61
143 12/1/29 844.64 143.03 0.00 701.61 28,302.00 28,302.00
144 1/1/30 844.64 144.22 0.00 700.42 27,601.58 27,601.58
145 2/1/30 844.64 140.65 0.00 703.99 26,897.59 26,897.59
146 3/1/30 844.64 123.80 0.00 720.84 26,176.75 26,176.75
147 4/1/30 844.64 133.39 0.00 711.25 25,465.50 25,465.50
148 5/1/30 844.64 125.58 0.00 719.06 24,746.44 24,746.44

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 Pmt Payment Interest Interest Principal Principal Total
Date
No. Due Accrued Balance Paid Balance Owed
149 6/1/30 844.64 126.11 0.00 718.53 24,027.91 24,027.91
150 7/1/30 844.64 118.49 0.00 726.15 23,301.76 23,301.76
151 8/1/30 844.64 118.74 0.00 725.90 22,575.86 22,575.86
152 9/1/30 844.64 115.04 0.00 729.60 21,846.26 21,846.26
153 10/1/30 844.64 107.73 0.00 736.91 21,109.35 21,109.35
154 11/1/30 844.64 107.57 0.00 737.07 20,372.28 20,372.28
155 12/1/30 844.64 100.47 0.00 744.17 19,628.11 19,628.11
156 1/1/31 844.64 100.02 0.00 744.62 18,883.49 18,883.49
157 2/1/31 844.64 96.23 0.00 748.41 18,135.08 18,135.08
158 3/1/31 844.64 83.47 0.00 761.17 17,373.91 17,373.91
159 4/1/31 844.64 88.54 0.00 756.10 16,617.81 16,617.81
160 5/1/31 844.64 81.95 0.00 762.69 15,855.12 15,855.12
161 6/1/31 844.64 80.80 0.00 763.84 15,091.28 15,091.28
162 7/1/31 844.64 74.42 0.00 770.22 14,321.06 14,321.06
163 8/1/31 844.64 72.98 0.00 771.66 13,549.40 13,549.40
164 9/1/31 844.64 69.05 0.00 775.59 12,773.81 12,773.81
165 10/1/31 844.64 62.99 0.00 781.65 11,992.16 11,992.16
166 11/1/31 844.64 61.11 0.00 783.53 11,208.63 11,208.63
167 12/1/31 844.64 55.28 0.00 789.36 10,419.27 10,419.27
168 1/1/32 844.64 53.10 0.00 791.54 9,627.73 9,627.73
169 2/1/32 844.64 49.06 0.00 795.58 8,832.15 8,832.15
170 3/1/32 844.64 42.10 0.00 802.54 8,029.61 8,029.61
171 4/1/32 844.64 40.92 0.00 803.72 7,225.89 7,225.89
172 5/1/32 844.64 35.63 0.00 809.01 6,416.88 6,416.88
173 6/1/32 844.64 32.70 0.00 811.94 5,604.94 5,604.94
174 7/1/32 844.64 27.64 0.00 817.00 4,787.94 4,787.94
175 8/1/32 844.64 24.40 0.00 820.24 3,967.70 3,967.70
176 9/1/32 844.64 20.22 0.00 824.42 3,143.28 3,143.28
177 10/1/32 844.64 15.50 0.00 829.14 2,314.14 2,314.14
178 11/1/32 844.64 11.79 0.00 832.85 1,481.29 1,481.29
179 12/1/32 844.64 7.30 0.00 837.34 643.95 643.95
180 1/1/33 647.23 3.28 0.00 643.95 0.00 0.00

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 Pmt Payment Interest Interest Principal Principal Total
Date
No. Due Accrued Balance Paid Balance Owed

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 Pmt Payment Interest Interest Principal Principal Total
Date
No. Due Accrued Balance Paid Balance Owed

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 Pmt Payment Interest Interest Principal Principal Total
Date
No. Due Accrued Balance Paid Balance Owed

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 Pmt Payment Interest Interest Principal Principal Total
Date
No. Due Accrued Balance Paid Balance Owed

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 Pmt Payment Interest Interest Principal Principal Total
Date
No. Due Accrued Balance Paid Balance Owed

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 Pmt Payment Interest Interest Principal Principal Total
Date
No. Due Accrued Balance Paid Balance Owed

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 Pmt Payment Interest Interest Principal Principal Total
Date
No. Due Accrued Balance Paid Balance Owed

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 Pmt Payment Interest Interest Principal Principal Total
Date
No. Due Accrued Balance Paid Balance Owed

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 Pmt Payment Interest Interest Principal Principal Total
Date
No. Due Accrued Balance Paid Balance Owed

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 Pmt Payment Interest Interest Principal Principal Total
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No. Due Accrued Balance Paid Balance Owed

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Simple Interest Loan Payment Tracker
Borrower: [Lender Name] Simple Interest Loan Calculator
[Address, City, ST ZIP] [Address, City, ST ZIP] © 2008-2018 Vertex42 LLC
Phone: [Phone] Phone: [Phone]

Loan Information [42] Summary To Date See the Help worksheet for instructions.
Loan Amount $ 100,000.00 Daily Interest Rate 0.0164384%
Annual Interest Rate 6.00% Total Payments 2,150.00 Unhide columns G-I to track fees.
Loan Issue Date 1/1/2018 Total Interest Accrued 1,590.40
Days in Year 365 Total Owed 99,440.40

Payment (for reference) $ 845.00 ◄ Enter the payment as a reminder. It does not affect calculations.

Payment History The Interest Accrued is Rounded

Pmt Interest Interest Interest Principal Principal Total

Date Payment
No. Accrued Paid Balance Paid Balance Owed
1/1/18 - - 0.00 100,000.00 100,000.00
1 1/30/18 845.00 0.00 0.00 0.00 368.29 -368.29 99,631.71 ◄ Enter the payment date and the payment amount in the yellow fields.
3/3/18 460.00 #REF! #REF! #REF! #REF! #REF! #REF!
#REF! 4/2/18 0.00 #REF! #REF! #REF! #REF! #REF! #REF!
#REF! 4/8/18 845.00 #REF! #REF! #REF! #REF! #REF! #REF!
#REF! This spreadsheet is for Personal Use Only.
#REF! You may purchase a commercial license if
#REF! you are a lender or are using the
#REF! spreadsheet for business.
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HELP
https://www.vertex42.com/Calculators/simple-interest-loan.html © 2008-2018 Vertex42 LLC

About This Spreadsheet

A Simple Interest Loan accrues interest on a daily basis and the interest is calculated
using the formula daily rate * days since last payment * principal balance. Unpaid
interest is accrued in a separate interest balance and is not added to the principal.
Payments are first applied to the interest accrued and previous interest balance.
Anything left over is applied to the principal.

Visit vertex42.com to learn more about how a Simple Interest Loan works.
Learn about Simple Interest Loans

If you are using this spreadsheet as a lender or on behalf of a client, please purchase
the Commercial Use license. The free version is meant for the borrower or as a trial for
people who are considering the commercial version.
Purchase the Commercial Use License

Worksheet Protection
The Calculator and Payment worksheets are protected to help the user avoid editing
cells that should not be edited. To unprotect a worksheet, go to the Review tab in
Excel.

Calculator Worksheet
The calculator worksheet can be used to analyze a loan, calculate a monthly payment,
and create an amortization schedule based on the assumption that all payments are
made exactly on the due date. You can experiment with entering different Actual
Payment amounts to see how that affects the Total Interest and Number of Payments.

Read the comments in some of the cells (marked with a red triangle) to learn more
about the different input fields.

Payment Worksheet
This worksheet provides a way to track actual payments. After entering the loan
information, enter the dates and payment amounts within the Payment History table.
The date should be the date the payment is processed.

Fees: If the fee columns are not needed, you can hide those columns. Fees are not
paid automatically. They are paid only when you enter an amount in the Fee Paid
column. The remainder of the payment is applied to interest and principal. Unpaid fees
are added to the Fee balance. Unpaid fees are not added to the principal.

Missed Payments: You can enter the due date and a 0 (zero) for the amount.
Entering a zero amount on the due date is a convenient way to indicate that a payment
was missed or late.
 Principal-Only Payment: This column (D) is hidden by default. To record a principal-
only payment, unhide the column and enter an "x" to make a payment apply only to the
principal. Interest accrued up to that point will be added to the unpaid interest balance.

To fully pay off a loan, first enter the date of the payment. You will need to calculate
the payment amount, which should be the previous Total Owed plus the current
Interest Accrued.

REFERENCES

SEE ALSO Vertex42.com: Loan Amortization Schedule

SEE ALSO Vertex42.com: Personal Budget Spreadsheet

8-2018 Vertex42 LLC
Simple Interest Loan Calculator

By Vertex42.com
https://www.vertex42.com/Calculators/simple-interest-loan.html

© 2008-2018 Vertex42 LLC

This spreadsheet, including all worksheets and associated content is a

copyrighted work under the United States and other copyright laws.

Do not submit copies or modifications of this template to any website or online

template gallery.

Please review the following license agreement to learn how you may or may not
use this template. Thank you.

License Agreement (Personal Use)

https://www.vertex42.com/licensing/EULA_personaluse.html