Hi All
Looking forward for your advice and help in calculating interest on loan given at various date. Details as below
a) I have below data as loan disbursement date during the period
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b) I have Libor closing rate month wise as below
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Requirement : Calculate month-wise Interest due from the date of loan till May 2017 applying 5%+Libor Rate(given in above table)
Ex: Party A has give loan on 3rd Jan 2016 for $1500 so have to calculate interest due till May 2017 , month-wise using the constant interest rate 5% + Libor rate as per table above(variable)
Kindly guide how to map the Libor interest rate from the date of loan , month-wise so that the calculation is simple and meaningful.
Thank You
Looking forward for your advice and help in calculating interest on loan given at various date. Details as below
a) I have below data as loan disbursement date during the period
| Party | Date of Loan | Loan Amount |
| A | 3-Jan-2016 | $ 1,500.00 |
| B | 3-Jan-2016 | $ 200.00 |
| C | 3-Jan-2016 | $ 300.00 |
| A | 16-Jan-2016 | $ 1,500.00 |
| B | 20-Jan-2016 | $ 2,000.00 |
| C | 15 Dec-2016 | $ 1,000.00 |
| C | 21 Dec-2016 | $ 5,000.00 |
| B | 28 Dec-2016 | $ 2,000.00 |
| A | 28-Feb-2017 | $ 3,000.00 |
| B | 22-Mar-2017 | $ 1,500.00 |
| C | 29-Mar-2017 | $ 500.00 |
| A | 19-Apr-2017 | $ 2,000.00 |
| A | 15-May-2017 | $ 1,500.00 |
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b) I have Libor closing rate month wise as below
| Month / LIBOR rate | Year | Average |
| January | 2016 | 0.856 % |
| February | 2016 | 0.870 % |
| March | 2016 | 0.901 % |
| April | 2016 | 0.903 % |
| May | 2016 | 0.933 % |
| June | 2016 | 0.936 % |
| July | 2016 | 0.999 % |
| August | 2016 | 1.198 % |
| September | 2016 | 1.247 % |
| October | 2016 | 1.259 % |
| November | 2016 | 1.269 % |
| December | 2016 | 1.306 % |
| January | 2017 | 1.340 % |
| February | 2017 | 1.351 % |
| March | 2017 | 1.426 % |
| April | 2017 | 1.417 % |
| May | 2017 | 1.425 % |
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Requirement : Calculate month-wise Interest due from the date of loan till May 2017 applying 5%+Libor Rate(given in above table)
Ex: Party A has give loan on 3rd Jan 2016 for $1500 so have to calculate interest due till May 2017 , month-wise using the constant interest rate 5% + Libor rate as per table above(variable)
Kindly guide how to map the Libor interest rate from the date of loan , month-wise so that the calculation is simple and meaningful.
Thank You
