About the Interest Rate Calculator
Know the loan amount and the repayment but not the rate? This calculator solves for the annual interest rate behind any fixed-payment loan, so you can compare offers and spot expensive finance deals.
How to use it
- Enter the amount borrowed.
- Enter the regular repayment and frequency.
- Enter the loan term.
Formula & method
Solve r in: Payment = P × r ÷ (1 − (1 + r)^−n) (numerical root finding)Frequently asked questions
What is APR?
Annual percentage rate is the yearly cost of borrowing. This calculator returns the nominal annual rate implied by your repayments; fees included in the loan amount raise it further.
Results are estimates for general information only and are not financial, tax, legal or medical advice. Please confirm important decisions with a qualified professional.