# How To Calculate Interest On Notes Payable

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How to Calculate a Note Payable. Find the current payment on your amortization table. For example, if you made 13 payments then go to the 13th payment row. Pick out the principal paid from that row. In the example, assume your principal paid is \$20,000 Subtract the principal paid from the original amount borrowed.

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This is the annual interest charge for the note. 3. Calculate interest for the entire period. finally, to get the full cost you need to multiply the annual charge by the number of years specified in the promissory note. In this case the calculation would show \$350 (charge for 1 year) X 3 (total years) = \$1,050.