Calculates the Annual Cost of Interest on a Loan — Interest

This function calculates the annual cost of interest on a loan. The amount of the loan and the annual interest rate is provided by the user.

Usage

Interest_Expense(Loan_Amount, Interest_Rate)

The output returns the estimated dollar amount spent on interest for a loan.

This function calculates the dollar amount spent on interest for a loan by multiplying the loan by the annual interest rate (provided by the user).

Aaron Null