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Learn how to calculate monthly interest for loans, bank accounts, credit cards, and more. With this calculation, you'll know how much you pay (or earn) each month.
The formula for calculating simple interest in a savings account is Interest = P * R * T. Multiply the account balance by the interest rate by the time period.
Alternatively, you can use the simple interest formula I=Prn if you have the interest rate per month. If you had a monthly rate of 5% and you'd like to calculate the interest for one year, your total interest would be $10,000 × 0.05 × 12 = $6,000.
Find out what interest rate, effective rate, APY or APR you're receiving on your credit card, loan, mortgage, savings or investment using this interest rate calculator. Note that interest is compounded monthly.
Free compound interest calculator to find the interest, final balance, and schedule using either a fixed initial investment and/or periodic contributions.
The calculator has been designed to estimate bank interest rates on a loan or deposit, so we focus on the following most frequently used rates in such financial transactions: Nominal Annual Interest Rate r; Periodic Rate i; Effective Annual Rate EAR; Annual Percentage Rate APR; Nominal Annual Interest Rate
Use the loan interest calculator to estimate the total payable interest of your loan with an amortization schedule.