For loan calculations we can use the formula for the Present Value of an Ordinary Annuity. You can calculate your interest costs using the formula I P X R X T where. Enter the variables for your specific loan.
Free payment calculator to find monthly payment amount or time period to pay off a loan using a fixed term or a fixed payment.
Free payment calculator to find monthly payment amount or time period to pay off a loan using a fixed term or a fixed payment. In this formula for a monthly payment assume that there is no down payment and that the student must finance the entire price of the car. For example if you have a 200000 30-year loan at 11 percent interest your monthly percentage rate is 11120091667. If the nominal annual interest rate is i 75 and the interest is compounded semi-annually n 2 and payments are made monthly p 12 then the rate per period will be r 06155.