Excel formula: Calculate interest rate for loanInterest Formula | Calculator (Examples with Excel Template)Interest Formula | Calculator (Examples with Excel Template)Compute Loan Interest With Calculators or Templates04/06/2021 · Calculation: You can calculate your total interest by using this formula: Principal loan amount x Interest rate x Time (aka Number of years in term) = InterestTo calculate the periodic interest rate for a loan, given the loan amount, the number of payment periods, and the payment amount, you can use the RATE function. In the example shown, the formula in C10 is: = RATE(C7, C6, - C5) 1202/12/2020 · Effective rate on a discounted loan = [Interest X Days in the Year (360)/Days Loan is Outstanding] [Principal - Interest] Effective rate on a discounted loan = (60 X 360/360)/ ($1,000 - 60) = As you can see, the effective rate of interest is higher on a discounted loan than on a …Longer terms will lower monthly repayments, but cost more in interest over the life of the loan. For example, our personal loan repayment calculator shows that on a loan of $20,000 at you would pay: $634 each month, adding up to $2,812 in interest over 3 years, or $413 each month, adding up to $4,765 in interest over 5 years.

Tags: Calculating interest rate on a loan formula excel, Calculating interest rate on a loan formula example, Calculating interest rate on a loan formula in india, Calculating interest rate on a loan formula philippines, Calculating interest rate on a loan formula online, Calculating interest rate on a loan formula uk, Calculate interest rate on loan formula excel, Calculating interest rate on a home loan formula,