Interest Rate Calculator

Your details

The total amount borrowed (principal), before interest or fees.
Full years in the repayment term. Combine with months for fractional terms.
yr
Additional months on top of the years above. E.g. 2 years 6 months = 30 months total.
mo
The fixed amount you pay each month, as quoted by the lender or dealer.
Origination fees, closing costs, or other charges added to the cost of borrowing. Used to compute APR.
Currency
Annual interest rateCompetitive rate
0.05%

Nominal annual rate (monthly compounding) implicit in your loan terms

Effective annual rate (EAR)0.051%
APR (with fees)0.05%
Total of payments$22,645.20
Total interest paid$2,645.20
Total months60
Principal$20,000.00

Implied interest rate: 4.999% per year

  • Your implied annual interest rate is 4.999%, which compounds to an effective annual rate of 5.116%.
  • Over 5.0 years, you will pay back a total of $22,645, meaning interest adds 13.2% on top of the principal.

Next stepThis is a below-market rate. Confirm the lender has not rolled hidden fees into the principal, and check whether the rate is fixed or variable for the full term.

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