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how to calculate simple interest for days. To calculate per-diem interest take the interest rate be sure to express it as a decimal so 10 becomes 010 and divide by 365 to determine the daily interest rate. To calculate a monthly interest rate divide the annual rate by 12 to reflect the 12 months in the year.
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010 365 000027397. If you need to know the interest for 31 days then enter 31 for the number of days and dont worry about the dates. Key in or calculate the number of days then press.
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However you need to calculate the days. Youll need to convert from percentage to decimal format to complete these steps. Multiplying this amount by. Enter the amount of the loan and the simple interest rate.
