Simple Interest Loan Calculator

Simple Interest Loan Calculator
2008-2016 Vertex42 LLC
http://www.vertex42.com/Calculators/simple-interest-loan.html
Loan Information
Loan Amount
$
Annual Interest Rate
Term of Loan in Years
First Day Interest Accrues
First Payment Date
Payment Frequency
Days in Year
Balloon Payment #
Rounding
Est. Monthly Payment
Actual Monthly Payment
Summary
Daily Interest Rate
Number of Payments
Total Payments
Total Interest
Balloon Payment
[42]
1,500,000.00
10.00%
10
3/14/2015
5/14/2015
Monthly
360
On
19,972.78
$
$
$
0.0277778%
122
2,428,149.63
928,149.63
.
Using This Worksheet

This calculator can be used to estimate an
amortization schedule for a Simple Interest Loan or
Simple Interest Mortgage, in which the interest
accrues daily in a separate interest accrual account.
The main reason this calculator only provides an
estimate is because it assumes that the payments
are posted to your account exactly on the days
listed. In reality, that may not be the case, which is
why the Payment worksheet is set up for you to track
your actual payments. You can experiment with
choosing different extra payments to see how that
affects the total interest paid.
(estimate)
0
Amortization Schedule
Pmt
No.
Date
Payment
Interest
Accrued
Interest
Balance
3/13/15
Principal
Balance
$
1,500,000 $
Total
Owed
1,500,000
5/14/15
19,972.78
25,833.33
5,860.55
1,500,000.00
1,505,860.55
6/14/15
19,972.78
12,916.67
0.00
1,498,804.44
1,498,804.44
7/14/15
19,972.78
12,490.04
0.00
1,491,321.70
1,491,321.70
8/14/15
19,972.78
12,841.94
0.00
1,484,190.86
1,484,190.86
9/14/15
19,972.78
12,780.53
0.00
1,476,998.61
1,476,998.61
10/14/15
19,972.78
12,308.32
0.00
1,469,334.15
1,469,334.15
11/14/15
19,972.78
12,652.60
0.00
1,462,013.97
1,462,013.97
12/14/15
19,972.78
12,183.45
0.00
1,454,224.64
1,454,224.64
1/14/16
19,972.78
12,522.49
0.00
1,446,774.35
1,446,774.35
10
2/14/16
19,972.78
12,458.33
0.00
1,439,259.90
1,439,259.90
11
3/14/16
19,972.78
11,594.04
0.00
1,430,881.16
1,430,881.16
12
4/14/16
19,972.78
12,321.48
0.00
1,423,229.86
1,423,229.86
13
5/14/16
19,972.78
11,860.25
0.00
1,415,117.33
1,415,117.33
14
6/14/16
19,972.78
12,185.73
0.00
1,407,330.28
1,407,330.28
15
7/14/16
19,972.78
11,727.75
0.00
1,399,085.25
1,399,085.25
16
8/14/16
19,972.78
12,047.68
0.00
1,391,160.15
1,391,160.15
17
9/14/16
19,972.78
11,979.43
0.00
1,383,166.80
1,383,166.80
18
10/14/16
19,972.78
11,526.39
0.00
1,374,720.41
1,374,720.41
19
11/14/16
19,972.78
11,837.87
0.00
1,366,585.50
1,366,585.50
20
12/14/16
19,972.78
11,388.21
0.00
1,358,000.93
1,358,000.93
21
1/14/17
19,972.78
11,693.90
0.00
1,349,722.05
1,349,722.05
22
2/14/17
19,972.78
11,622.61
0.00
1,341,371.88
1,341,371.88
23
3/14/17
19,972.78
10,432.89
0.00
1,331,831.99
1,331,831.99
24
4/14/17
19,972.78
11,468.55
0.00
1,323,327.76
1,323,327.76
25
5/14/17
19,972.78
11,027.73
0.00
1,314,382.71
1,314,382.71
26
6/14/17
19,972.78
11,318.30
0.00
1,305,728.23
1,305,728.23
27
7/14/17
19,972.78
10,881.07
0.00
1,296,636.52
1,296,636.52
28
8/14/17
19,972.78
11,165.48
0.00
1,287,829.22
1,287,829.22
29
9/14/17
19,972.78
11,089.64
0.00
1,278,946.08
1,278,946.08
30
10/14/17
19,972.78
10,657.88
0.00
1,269,631.18
1,269,631.18
31
11/14/17
19,972.78
10,932.94
0.00
1,260,591.34
1,260,591.34
32
12/14/17
19,972.78
10,504.93
0.00
1,251,123.49
1,251,123.49
33
1/14/18
19,972.78
10,773.56
0.00
1,241,924.27
1,241,924.27
34
2/14/18
19,972.78
10,694.35
0.00
1,232,645.84
1,232,645.84
35
3/14/18
19,972.78
9,587.25
0.00
1,222,260.31
1,222,260.31
36
4/14/18
19,972.78
10,525.02
0.00
1,212,812.55
1,212,812.55
37
5/14/18
19,972.78
10,106.77
0.00
1,202,946.54
1,202,946.54
38
6/14/18
19,972.78
10,358.71
0.00
1,193,332.47
1,193,332.47
39
7/14/18
19,972.78
9,944.44
0.00
1,183,304.13
1,183,304.13
40
8/14/18
19,972.78
10,189.56
0.00
1,173,520.91
1,173,520.91
41
9/14/18
19,972.78
10,105.32
0.00
1,163,653.45
1,163,653.45
42
10/14/18
19,972.78
9,697.11
0.00
1,153,377.78
1,153,377.78
43
11/14/18
19,972.78
9,931.86
0.00
1,143,336.86
1,143,336.86
44
12/14/18
19,972.78
9,527.81
0.00
1,132,891.89
1,132,891.89
45
1/14/19
19,972.78
9,755.46
0.00
1,122,674.57
1,122,674.57
46
2/14/19
19,972.78
9,667.48
0.00
1,112,369.27
1,112,369.27
47
3/14/19
19,972.78
8,651.76
0.00
1,101,048.25
1,101,048.25
48
4/14/19
19,972.78
9,481.25
0.00
1,090,556.72
1,090,556.72
49
5/14/19
19,972.78
9,087.97
0.00
1,079,671.91
1,079,671.91
50
6/14/19
19,972.78
9,297.17
0.00
1,068,996.30
1,068,996.30
51
7/14/19
19,972.78
8,908.30
0.00
1,057,931.82
1,057,931.82
52
8/14/19
19,972.78
9,109.97
0.00
1,047,069.01
1,047,069.01
53
9/14/19
19,972.78
9,016.43
0.00
1,036,112.66
1,036,112.66
54
10/14/19
19,972.78
8,634.27
0.00
1,024,774.15
1,024,774.15
55
11/14/19
19,972.78
8,824.44
0.00
1,013,625.81
1,013,625.81
56
12/14/19
19,972.78
8,446.88
0.00
1,002,099.91
1,002,099.91
57
1/14/20
19,972.78
8,629.19
0.00
990,756.32
990,756.32
58
2/14/20
19,972.78
8,531.51
0.00
979,315.05
979,315.05
Page 1 of 44
Pmt
No.
Date
Payment
Interest
Accrued
Interest
Balance
Principal
Balance
Total
Owed
59
3/14/20
19,972.78
7,888.93
0.00
967,231.20
967,231.20
60
4/14/20
19,972.78
8,328.94
0.00
955,587.36
955,587.36
61
5/14/20
19,972.78
7,963.23
0.00
943,577.81
943,577.81
62
6/14/20
19,972.78
8,125.25
0.00
931,730.28
931,730.28
63
7/14/20
19,972.78
7,764.42
0.00
919,521.92
919,521.92
64
8/14/20
19,972.78
7,918.11
0.00
907,467.25
907,467.25
65
9/14/20
19,972.78
7,814.30
0.00
895,308.77
895,308.77
66
10/14/20
19,972.78
7,460.91
0.00
882,796.90
882,796.90
67
11/14/20
19,972.78
7,601.86
0.00
870,425.98
870,425.98
68
12/14/20
19,972.78
7,253.55
0.00
857,706.75
857,706.75
69
1/14/21
19,972.78
7,385.81
0.00
845,119.78
845,119.78
70
2/14/21
19,972.78
7,277.42
0.00
832,424.42
832,424.42
71
3/14/21
19,972.78
6,474.41
0.00
818,926.05
818,926.05
72
4/14/21
19,972.78
7,051.86
0.00
806,005.13
806,005.13
73
5/14/21
19,972.78
6,716.71
0.00
792,749.06
792,749.06
74
6/14/21
19,972.78
6,826.45
0.00
779,602.73
779,602.73
75
7/14/21
19,972.78
6,496.69
0.00
766,126.64
766,126.64
76
8/14/21
19,972.78
6,597.20
0.00
752,751.06
752,751.06
77
9/14/21
19,972.78
6,482.02
0.00
739,260.30
739,260.30
78
10/14/21
19,972.78
6,160.50
0.00
725,448.02
725,448.02
79
11/14/21
19,972.78
6,246.91
0.00
711,722.15
711,722.15
80
12/14/21
19,972.78
5,931.02
0.00
697,680.39
697,680.39
81
1/14/22
19,972.78
6,007.80
0.00
683,715.41
683,715.41
82
2/14/22
19,972.78
5,887.55
0.00
669,630.18
669,630.18
83
3/14/22
19,972.78
5,208.23
0.00
654,865.63
654,865.63
84
4/14/22
19,972.78
5,639.12
0.00
640,531.97
640,531.97
85
5/14/22
19,972.78
5,337.77
0.00
625,896.96
625,896.96
86
6/14/22
19,972.78
5,389.67
0.00
611,313.85
611,313.85
87
7/14/22
19,972.78
5,094.28
0.00
596,435.35
596,435.35
88
8/14/22
19,972.78
5,135.97
0.00
581,598.54
581,598.54
89
9/14/22
19,972.78
5,008.21
0.00
566,633.97
566,633.97
90
10/14/22
19,972.78
4,721.95
0.00
551,383.14
551,383.14
91
11/14/22
19,972.78
4,748.02
0.00
536,158.38
536,158.38
92
12/14/22
19,972.78
4,467.99
0.00
520,653.59
520,653.59
93
1/14/23
19,972.78
4,483.41
0.00
505,164.22
505,164.22
94
2/14/23
19,972.78
4,350.03
0.00
489,541.47
489,541.47
95
3/14/23
19,972.78
3,807.54
0.00
473,376.23
473,376.23
96
4/14/23
19,972.78
4,076.30
0.00
457,479.75
457,479.75
97
5/14/23
19,972.78
3,812.33
0.00
441,319.30
441,319.30
98
6/14/23
19,972.78
3,800.25
0.00
425,146.77
425,146.77
99
7/14/23
19,972.78
3,542.89
0.00
408,716.88
408,716.88
100
8/14/23
19,972.78
3,519.51
0.00
392,263.61
392,263.61
101
9/14/23
19,972.78
3,377.83
0.00
375,668.66
375,668.66
102
10/14/23
19,972.78
3,130.57
0.00
358,826.45
358,826.45
103
11/14/23
19,972.78
3,089.89
0.00
341,943.56
341,943.56
104
12/14/23
19,972.78
2,849.53
0.00
324,820.31
324,820.31
105
1/14/24
19,972.78
2,797.06
0.00
307,644.59
307,644.59
106
2/14/24
19,972.78
2,649.16
0.00
290,320.97
290,320.97
107
3/14/24
19,972.78
2,338.70
0.00
272,686.89
272,686.89
108
4/14/24
19,972.78
2,348.14
0.00
255,062.25
255,062.25
109
5/14/24
19,972.78
2,125.52
0.00
237,214.99
237,214.99
110
6/14/24
19,972.78
2,042.68
0.00
219,284.89
219,284.89
111
7/14/24
19,972.78
1,827.37
0.00
201,139.48
201,139.48
112
8/14/24
19,972.78
1,732.03
0.00
182,898.73
182,898.73
113
9/14/24
19,972.78
1,574.96
0.00
164,500.91
164,500.91
114
10/14/24
19,972.78
1,370.84
0.00
145,898.97
145,898.97
115
11/14/24
19,972.78
1,256.35
0.00
127,182.54
127,182.54
116
12/14/24
19,972.78
1,059.85
0.00
108,269.61
108,269.61
117
1/14/25
19,972.78
932.32
0.00
89,229.15
89,229.15
118
2/14/25
19,972.78
768.36
0.00
70,024.73
70,024.73
119
3/14/25
19,972.78
544.64
0.00
50,596.59
50,596.59
120
4/14/25
19,972.78
435.69
0.00
31,059.50
31,059.50
121
5/14/25
19,972.78
258.83
0.00
11,345.55
11,345.55
122
6/14/25
11,443.25
97.70
0.00
0.00
0.00
Page 2 of 44
Pmt
No.
Date
Payment
Interest
Accrued
Interest
Balance
Principal
Balance
Total
Owed
Page 3 of 44
Pmt
No.
Date
Payment
Interest
Accrued
Interest
Balance
Principal
Balance
Total
Owed
Page 4 of 44
Pmt
No.
Date
Payment
Interest
Accrued
Interest
Balance
Principal
Balance
Total
Owed
Page 5 of 44
Pmt
No.
Date
Payment
Interest
Accrued
Interest
Balance
Principal
Balance
Total
Owed
Page 6 of 44
Pmt
No.
Date
Payment
Interest
Accrued
Interest
Balance
Principal
Balance
Total
Owed
Page 7 of 44
Pmt
No.
Date
Payment
Interest
Accrued
Interest
Balance
Principal
Balance
Total
Owed
Page 8 of 44
Pmt
No.
Date
Payment
Interest
Accrued
Interest
Balance
Principal
Balance
Total
Owed
Page 9 of 44
Pmt
No.
Date
Payment
Interest
Accrued
Interest
Balance
Principal
Balance
Total
Owed
Page 10 of 44
Simple Interest Loan Payment Schedule

Borrower:
[Company Name]
[Address, City, ST ZIP]
Phone: [Phone]
[Address, City, ST ZIP]

Phone: [Phone]
Loan Information
[42]
Loan Amount
$ 1,500,000.00
Annual Interest Rate
10.00%
First Day Interest Accrues
3/14/2015
Days in Year
360
Payment (for reference)
Summary To Date
Daily Interest Rate
# Payments
Total Payments
Total Interest
3,387.67
Payment Schedule
Pmt
No.
Date
$
$
0.0277778%
10
200,000.00
163,621.47
The Interest Accrued is Rounded
Payment
Interest
Accrued
Interest
Balance
Principal
Balance
Total
Owed
3/13/15
0.00
1,500,000.00
1,500,000.00
5/12/15
20,000.00
25,000.00
5,000.00
1,500,000.00
1,505,000.00
6/17/15
20,000.00
15,000.00
0.00
1,500,000.00
1,500,000.00
7/16/15
20,000.00
12,083.33
0.00
1,492,083.33
1,492,083.33
8/25/15
20,000.00
16,578.70
0.00
1,488,662.03
1,488,662.03
9/21/15
20,000.00
11,164.97
0.00
1,479,827.00
1,479,827.00
10/26/15
20,000.00
14,387.21
0.00
1,474,214.21
1,474,214.21
11/24/15
20,000.00
11,875.61
0.00
1,466,089.82
1,466,089.82
1/30/16
40,000.00
27,285.56
0.00
1,453,375.38
1,453,375.38
3/11/16
20,000.00
16,552.33
0.00
1,449,927.71
1,449,927.71
10
4/14/16
0.00
13,693.76
13,693.76
1,449,927.71
1,463,621.47
11
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End of Formulas
Page 25 of 44
Using This Worksheet

This spreadsheet provides a way to track your actual payments.
1. Look at your contract to fill in the Loan information. To start midstream, enter the current day's Principal Balance in the Loan Amount
field, tomorrow's date in the First Day Interest Accrues field, and enter
your current Interest Balance in cell F14.
2. Enter the date of your payments in column B of the Payment
Schedule and the amount you paid in column C. The date should be
the day the payment is processed.
3. To fully pay off a loan, first enter the date it will be paid off. The
Payment should then be the previous Total Owed amount plus the
current Interest Accrued.
Note: This payment schedule assumes there are no extra penalties or
fees for late payments, missing payments, or prepayments. The
payment is first applied to the interest accrued, then the previous
interest balance. Anything left over is applied to the principal.
Enter the payment date and the payment amount in the yellow fields.
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HELP
Getting Started
General help information for how to use each calculator is provided on the right side of
each worksheet. Specific help information for cells is provided via cell comments.
Additional Help
The link at the top of this worksheet will take you to the web page on vertex42.com that
talks about this template.
REFERENCES
SEE ALSO
Vertex42.com: Loan Amortization Schedule
SEE ALSO
Vertex42.com: Personal Budget Spreadsheet
TIPS
Vertex42.com: Spreadsheet Tips Workbook
Simple Interest Loan Calculator

By Vertex42.com

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.
See License Agreement
http://www.vertex42.com/licensing/EULA_personaluse.html
Do not delete this worksheet. If necessary, you may hide it by right-clicking on
the tab and selecting Hide.

Simple Interest Loan Calculator

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Simple Interest Loan Calculator

2008-2016 Vertex42 LLC

Using This Worksheet

Simple Interest Loan Payment Schedule

2008-2016 Vertex42 LLC

[Address, City, ST ZIP]

Payment (for reference)

The Interest Accrued is Rounded

Using This Worksheet

2008-2016 Vertex42 LLC

Vertex42.com: Loan Amortization Schedule

Vertex42.com: Personal Budget Spreadsheet

Vertex42.com: Spreadsheet Tips Workbook

08-2016 Vertex42 LLC

Simple Interest Loan Calculator

2008-2016 Vertex42 LLC

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