Then multiply 500 x 00149 for an amount of 745 each month. Divide the finance charge 400 by the loan amount 1000 Multiply the result 04 by the number of days in the year 365 Divide the total 146 by the term of the loan in days 90 Multiply the result 1622 by 100 and add a percentage sign. A the monthly payment.
Use the formula.
For example if you have a 200000 30-year loan at 11 percent interest your monthly percentage rate is 11120091667. The Advanced APR Calculator finds the effective annual percentage rate APR for a loan fixed mortgage car loan etc allowing you to specify interest compounding and payment frequencies. You can use the Loan Calculator to calculate the APR 5547. To calculate a monthly interest rate divide the annual rate by 12 to reflect the 12 months in the year.