Loan amount
$
Payment amount
$
Interest rate
%
Rate of interest compounded
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    5 Number of calculations
    |

    Formula

    N = [ – log ( 1 – [ ( r*A ) / P ] ) ] / ( log (1+r) )

    • A = Loan Amount;
    • P = Payment Amount;
    • r = Rate of Interest (compounded);
    • N = Number of Payments.

    Rate of Interest Compounded is:

    • Monthly:  r = i / 1200
    • Quarterly: r = i / 400
    • Half yearly: r = i / 200
    • Yearly:  r = i / 100