Loan calculator
Know three of the four numbers in a loan? This finds the fourth: the payment, the amount, the rate or the time it takes.
Come si calcola
- Tasso di interesse
- Formula
- With your numbers
Dove vanno i tuoi pagamenti
Capitale e interessi pagati in ogni anno del prestito. All’inizio quasi tutta la rata è interesse.
- Capitale
- Interessi
Piano di ammortamento
Four numbers, one relationship
Every fixed-rate loan ties together the amount borrowed, the interest rate, the number of payments and the payment itself. Change any one and at least one other has to move: a longer term lowers the payment, and a lower rate lets the same payment support a bigger loan.
Domande frequenti
How is a loan payment calculated?
For a fixed-rate loan paid monthly, the payment is P × r ÷ (1 − (1 + r)−n), where P is the amount borrowed, r is the annual rate divided by 12, and n is the number of monthly payments. The worked solution fills in your numbers.
Can I work out the interest rate from my payment?
Yes. Choose “Interest rate”, then enter the amount, the payment and the term. There is no direct formula for the rate, so the calculator narrows it down numerically until the payment matches to a fraction of a cent.
Is APR the same as the interest rate?
Not quite. APR includes certain fees spread over the loan, so it is usually a little higher than the note rate. Use the APR when comparing offers.