📈 Simple Loan Interest Estimator 🎓
See how much interest might build up on an unsubsidized loan over time (simple daily interest).
Enter the initial loan amount.
Enter the yearly interest rate (e.g., 6 for 6%).
How many days to estimate interest for? (e.g., days in a semester).
Your Loan Snapshot:
Principal: $—
Annual Rate: —%
Duration: — days
Estimated Interest Accrued:
$0.00 💸
(Approx. Daily Interest Rate: —%)
Important Note! 💡
This is a simple interest estimate based on daily accrual. Actual loan interest may differ due to compounding, capitalization events (when accrued interest is added to the principal), fees, and specific lender terms. Use this as a helpful guide, not an exact payoff amount.