Effective Interest Rate Calculator

 



When you are applying for personal loan, payday loans or any other loans, it is necessary for you to know about effective interest rate which tells you that how much interest the loan will really cost you. With the help of effective interest rate calculator you will be able to know how to figure out interest rate on car loans or any other loan that you have applied for. 

Mathematically it is calculated by the formula : 

R = (1+ (i/n) n-1

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