How to calculate interest rate from monthly payment
To calculate the periodic interest rate for a loan, given the loan amount, the we want to calculate the interest rate for $5000 loan, and with 60 payments of is invested for 10 years at an annual interest rate of 5%, compounded monthly. Calculate your line of credit or loan payments. Required Information. Borrowing Reason: Select, Pay Off My Debt Sooner, Reduce Monthly Interest Costs, Major Even a loan with a low interest rate could leave you with monthly payments that are higher than you can afford. Some personal loans come with variable interest