Interest = principal loan amount x loan term x interest rate This article originally appeared on GOBankingRates.com: How To Calculate Interest on a Loan ...

Your student loan interest reveals just how much you’re really paying for that college education. Here’s a step-by-step guide on how to calculate it.

Curious about how the interest on your loan works? Learn how interest rates are determined and how to calculate interest on a loan yourself.

Doing the math and crunching the numbers when it comes to figuring out your loan's interest can be complicated. Here's how to calculate interest on a loan.

How to calculate simple interest on a loan Simple interest is most commonly used for short-term loans – like payday loans, or some types of personal or auto loans.

Learn about types of interest and how to calculate how much interest you’ll pay.

2. Calculate interest for one year Next, calculate the interest charge for one year by multiplying the principal by the interest rate. In our example that math would yield $5,000 X 0.07 = $350.

How do you calculate the return on your CD? To calculate the return on your CD, you need a few key elements: the principal deposit, the interest rate, the compounding frequency and the term length.

To calculate per-diem interest, take the interest rate (be sure to express it as a decimal, so 10% becomes 0.10) and divide by 365 to determine the daily interest rate.