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Interest Rate

If you want to find out what your interest rate will be on a loan, you can use an online calculator. Just input the loan amount, payment amount, and the number of years you want to borrow.

Initial amount
$
Payment amount
$
Number of years
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    30 Number of calculations
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    Formula

    i ≈ [ ( 1 + ( P/A ) ) 1/q– 1 ] q – 1

    • q = log[ 1 + (1/N) ] / log2;
    • N = n * 12;
    • P = Payment Amount;
    • A = Initial Amount;
    • N = Number of Payments