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This document contains an interest rate calculator that provides the effective interest rate for different types of loan agreements. It gives an example calculation for a $100,000 loan with 360 monthly payments at a 6% annual interest rate compounded monthly, showing the periodic interest rate, annual percentage rate, and effective annual interest rate. It also provides an example for a $10,000 loan with 60 monthly payments over 5 years at an 8% annual interest rate, flat rate, displaying the same calculated rates.
This document contains an interest rate calculator that provides the effective interest rate for different types of loan agreements. It gives an example calculation for a $100,000 loan with 360 monthly payments at a 6% annual interest rate compounded monthly, showing the periodic interest rate, annual percentage rate, and effective annual interest rate. It also provides an example for a $10,000 loan with 60 monthly payments over 5 years at an 8% annual interest rate, flat rate, displaying the same calculated rates.
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This document contains an interest rate calculator that provides the effective interest rate for different types of loan agreements. It gives an example calculation for a $100,000 loan with 360 monthly payments at a 6% annual interest rate compounded monthly, showing the periodic interest rate, annual percentage rate, and effective annual interest rate. It also provides an example for a $10,000 loan with 60 monthly payments over 5 years at an 8% annual interest rate, flat rate, displaying the same calculated rates.
Drepturi de autor:
Attribution Non-Commercial (BY-NC)
Formate disponibile
Descărcați ca XLS, PDF, TXT sau citiți online pe Scribd
Created by : http://www.bebas-hutang.com Note : Edit box in yellow color only
For "Daily, Weekly, Monthly" Compound Interest Rate
100000 Loan Amount 360 Number of payments in loan agreement (eg: monthly installments for 30 years = 360) 12 Number of compounding period in a year (eg: daily rest = 365, monthly rest = 12) 6.00% Nominal Annual Interest Rate 0.50% Nominal Periodic Interest Rate $599.55 Value of Each Payment
For "Flat" Interest Rate (Personal Loan, Hire Purchase)
10000 Loan Amount 60 Number of payments in loan agreement (eg: monthly for 5 years = 60) 5 Number of year in loan agreement 12 Number of payment periods in a year (eg: monthly installments = 12) 8.00% Nominal Annual Interest Rate $233.33 Value of Each Payment
1.18% Periodic Interest Rate
14.1% Annual Percentage Rate (APR) 15.08% Effective Annual Interest Rate (EIR) or 30 years = 360) thly rest = 12)