When calculating overtime for a job that may get paid a mix of regular rates and premium pay, knowing which rate to use to calculate the overtime rate is a bit trickier. The healthcare industry encounters this on a regular basis because of the unique work schedules and staffing needs assoc...
How to calculate amortizing interest on a loan Many lenders charge interest based on an amortization schedule. This includes mortgages, personal loans and mostauto loans. The monthly payment on these loans is fixed — the loan is paid over time in equal installments. However, how the lender cha...
How To Calculate Mortgage Interest Deduction If The Amount Is Over The Maximum Threshold Once you've got the Form 1098 Mortgage Interest Statement you will need to itemize your deductions to claim the mortgage interest deduction. Since mortgage interest is an itemized deduction, you’ll useSchedule...
This guide provides instructions to compute the total interest paid over the life of a loan, helping you better understand your loan's cost and financial impact
What is sales tax and how can you calculate it? Use QuickBooks’ guide to learn everything you need to know about sales tax.
The actual cash interest paid was only $5,000 -- the coupon multiplied by the bond's face value. However, interest expense also includes the $558.39 of amortized discount in the first six months. To calculate interest expense for the next semiannual payment, we add the amount of amortization...
How to Calculate a CD Interest Rate. A certificate of deposit is a bank investment that pays out a specific amount of money on a given date after the CD is opened. Unlike a regular bank account, you cannot withdraw money from the CD until it "matures," w
Factor rates are decimals that the lender uses to calculate the total cost of the loan. This method can look simple from the outside, but when converted to an interest rate, the true loan cost can easily translate into a 50 percent APR or more. But unlike an APR, factor rates don’t...
Let’s break down how to calculate interest on a loan in Excel using thePMT function. Understanding the Scenario: Loan amount:$5,000 Annual interest rate:4%(expressed as a decimal, so 4% becomes 0.04) Loan term:5 years (60 months) ...
Thepaymentis the monthly obligation calculated above. This will often remain constant over the term of the loan. Though you usually calculate the payment amount before calculating interest and principal, payment is equal to the sum of principal and interest. ...