This form of calculator can be used to come up with the real interest rate of a loan with fixed term and fixed monthly payment. A good example is that the auto dealer may only give you the monthly payment amount and the total price.
This interest rate calculator can assist you to figure out the actual interest rate in such situation.
If you are looking for calculator to calculate the interest of an investment, kindly make use of our interest calculator. If you are looking to understand the different of different interest, kindly make use of our compound interest calculator.