November 27, 2022
What is Interest Calculator?

What is Interest Calculator? Interest Calculator is a loan calculator that estimates the monthly payments and interest for a mortgage loan. It also provides a breakdown of the amortized loan, and calculates the total interest paid and the total principle paid over the term of the loan.

Interest Calculator

Formula to Calculate Interest

Interest = Principal × Interest rate

Example

If you take loan of 100$ and interest rate is 10%, then you will need to give 10% extra.

Interest = 100$ x 10/100 = 10$

Interest = 100$ + 10$ = 110$

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