Calculating Interest Worksheets

How to Calculate Financial Interest - We can distribute our interest rates by the number of expenses we can make in a year (interest rates are stated annually). For example, if we are making scheduled expenses, divide it by 12. 2. Then multiply it by the stability of the loan, which for the first payment, will be our whole major amount. This gives us the sum of interest we pay in the first month. For example, on a private loan of $30,000 concluded six years at 8.40% p.a. and making scheduled repayments: (0.084 ÷ 12) x 30,000 = 210. As we've now begun to wage off our principle, to work out the interest we pay in the following months, we need first to calculate our new balance. So: Principal - (repayment - interest) = new balance.