Online calculator

# Interest Rate

Online calculator for calculating interest rates on a loan product using the David Cantrell Approximate Solution method. The loan interest rate is calculated on the basis of the loan amount, monthly payment and loan term.

## Calculator of Loan interest rate

### Formula of Interest rate

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