How to calculate loan installment manually

 · The loan amount plus the accrued interest is divided equally over a period which is the loan tenure and you can easily calculate this final amount using an EMI calculator. The number of equated monthly installments is equal to the number of .  · CommonFloor Editorial Team. EMI that Ram has to pay is Rs. Total payment made by Ram to the bank in 10 years (EMI X Total tenure in months ( X ) is Rs 8,60, The total interest rate payable will be (Total payment – loan amount) Rs. 3,60, A = Payment amount per period. P = Initial principal or loan amount (in this example, $10,) r = Interest rate per period (in our example, that's % divided by 12 months) n = Total number of payments or periods.

Simply enter the loan amount, term and interest rate in the fields below and click calculate. This calculator can be used for mortgage, auto, or any other fixed loan types. Monthly Payments. $ Enter the first loan amount you want to check. Enter the loan duration amount. Enter the Interest Rate. The Installment Loan Calculator tells us that for a loan amount of $28, for 60 months with an interest rate of %, the monthly payment will be $ Compute the monthly interest rate expressed as a decimal times the loan amount. In this example, if you were borrowing $18,, you would multiply $18, by to get $

Step 2. Divide the annual interest rate by 12, the number of payments you will make per year. For example, if the annual interest rate is percent, then divide by 12 to get Divide that number by to convert the interest rate to a decimal from a percentage. How to Calculate an Installment Loan Payment Method 1 Method 1 of 3: Calculating the Payment by Hand Download Article. Find your loan information. The loan Method 2 Method 2 of 3: Using Excel Download Article. Open Microsoft Excel. All rights reserved. wikiHow, Inc. is the Method 3 Method 3 of. Click the Calculate Button. The Installment Loan Calculator tells us that for a loan amount of $28, for 60 months with an interest rate of %, the monthly payment will be $ If you want to go back and see how the monthly payment is be affected if the loan duration becomes 72 months, click the Back Button to make the change.