Now if we input these two data into the daily loan interest calculator that we’ve created, we can easily calculate the daily loan interest amount that you need to pay. Now, what is the amount of the daily loan interest that you need to pay again the amount of money that you have taken as a loan? You need to pay a 12% interest rate on the loan amount annually. Suppose, you’ve taken a loan of $5,000,000 from X bank for 1 year. And then you are ready to go.Īn Example of the Application of the Daily Loan Interest Calculator in Excel The next time, all you need to do is to input the annual loan balance and annual interest rate in cells D4 & D5. So you can use the above calculator to find the daily loan interest. ❸ To execute the above formula, press the ENTER button.
