How To Calculate Simple Interest Rate In Excel

It s in the upper left side of the main excel page.

How to calculate simple interest rate in excel. As you can see the simple interest amount for the dataset is 3500. To calculate simple interest in excel i e. T tenure of loan or time horizon. Enter the payment s total.

Next click on more functions and point the cursor on statistical. This example assumes that 1000 is invested for 10 years at an annual interest rate of 5. Use the formula to get the simple interest amount. Remember to keep the data in term of years.

Simple interest is the total amount of interest charged by the lender to the borrower based upon the principle amount taken tenure and rate of interest charged. The formula for simple interest is simple interest principal interest in other words it can be written as. In order to do a simple interest calculation in excel using the counta function follow the procedure below. Doing so opens a new spreadsheet for your.

To calculate the periodic interest rate for a loan given the loan amount the number of payment periods and the payment amount you can use the rate function. Simple interest means that interest payments are not compounded the interest is applied to the principal only. We need to find the simple interest amount for the dateset. R rate of simple interest.

Examples of simple interest rate formula with excel template let us understand this formula with the help of some examples. Scroll down the list that displays and click on counta. Interest that is not compounded you can use a formula that multiples principal rate and term. Rate c7 c6 c5 12.

In the example shown the formula in c10 is. Double click the excel app icon which resembles a white x on a dark green background.