It also displays the corresponding amortization schedule and related curves. Type Balance in cell A1 Interest rate in cell A2 and Periods in cell A3. Enter the first loan amount you want to check for our test lets say 28000 Enter the loan duration amount lets try 60 Enter the Interest Rate since this is for instructional purposes type in 35 Click the Calculate Button.
Your monthly interest rate is 083.
Understanding the Installment Formula Assuming you have an installment loan where you know the principal or initial amount borrowed and the interest rate and the number of months to pay off the loan you can use the installment payment formula to figure out how much you must pay each month. To project payments from life annuity options use the TSP Payment and Annuity Calculator. Enter the first loan amount you want to check for our test lets say 28000 Enter the loan duration amount lets try 60 Enter the Interest Rate since this is for instructional purposes type in 35 Click the Calculate Button. Simply enter the loan amount term and interest rate in the fields below and click calculate.