Simple Interest between Dates

The Simple Interest between Dates calculation lets you calculate interest between two dates based upon a fixed interest rate.

This method calculates simple interest for both full and fractional (stub) periods. Full periods are determined by counting backwards from the end date, fractional periods are calculated based upon the number of days in the remaining stub period and the assumed number of days in a year.

Input

• interest rate

• period interval

• start date

• end date

• start value

• year length

Results

• end value

• total interest

• number of full periods

• number of stub days

Example

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On January 1, 2002 someone borrows $10,000 at 6 % simple interest. Intervals are monthly and the year length is 360 days. How much does he have to pay when he settles his debt on May 23, 2002? Input Fixed interest rate: 6 %   Periods are : monthly   Start date [mm/dd/yyyy]: 01/01/2002   End date [mm/dd/yyyy]: 05/23/2002   Start value: 10,000   Year length : 360 days   Rounding: neares       Result End value: 11,436.67 Answer: $11,436.67.

 

Related topics

Simple interest

Compound interest

Variable interest tables

Day count conventions

Year Fraction

Date Series

Time between Dates