How to calculate interest on loan per month, How to calculate monthly payment on a loan, How to calculate monthly payment on a car loan ,How to calculate monthly payment on a mortgage : If you have a question as to how much interest is charged on the loan and how to calculate it, then you have come to the right place.Because today in this article you will get to know how you can add loan very easily.After this you do not need to read any other article, you can read it here in very easy language.
You will learn to add interest on the loan whether you are taking a home loan or a personal loan.You will not face any problem in adding interest for all these loans and withdrawing EMI every month.You should add the EMI yourself so that you know if the company is overcharging you.Well, wherever you take the loan,
You Get to know how much EMI you have to pay every month, but it does not tell you whether the company has done the calculations correctly.After learning this question will also go away from you and you can calculate your premium yourself. So now let us start explaining about it.
Understand how the premium for the loan is Calculated
To understand how much premium you will have to pay for the loan you have taken, you should understand how the percentage is calculated.We assume that you have get a loan of 1 lakh dollar
You will have to pay 10% interest on this, so if you directly calculate 10% of one lakh, then 10% of $100000 will be 10000 dollar.Now you have to add it to the amount that you have received. If you had received an amount of ₹ 100000 and interest of Dollar 10000 will be charged on it, then accordingly the amount will be 110000 dollar.
Then if you have given loan for 1 year then your first month’s installment will come If seen in this manner, you will have to pay an installment of around dollar 917 every month.
Formula to calculate EMI for loan
Amount / 100 = get 1 Percent
1 Percent * Interest Rate = Get Totla loan Interest
Amount + Interest = Total amount to pay
Total amount to pay / 12 month = Get 1 month Emi
- 100000 (Amount) /100 = 1000 ( 1 Percent)
- 1000 ( 1%) * 10( Interest Rate ) = 10000
- 100000 + 10000 = 110000 (Total amount to pay )
- 110000 /12 = 9167 (Emi )
How to calculate monthly payment on a loan
If you want to know how much loan EMI you will have to pay in a month, then for this you can understand the formula given above.With this you will understand very easily how you can withdraw monthly EMI for a month.First of all, you have to withdraw one percent of the amount you have taken as loan.
Then you have to Multiply the interest rate according to which you have to pay, after that the amount you will receive is to be added to the amount.Then after this you have to divide it by 12 months, after this you will know about the EMI of one month. By adopting this simple method you can easily answer your question.
How to calculate monthly payment on a car loan
If you want to find out about the monthly payment for your tax, then you have to follow the formula mentioned above, with the help of this you can easily calculate the monthly payment for your tax.First of all you have to know about the total amount, you have to take out one percent of the total amount and then after this you have to multiply it by the interest rate you have to pay for the loan.
And then whatever loan interest will be calculated in front of you, you have to add it to the Principal amount. In this way you will know about the total amount, then you have to divide it by 12 and then you will know how much you have to pay for your tax in a month.Using this method, you can very easily find out about your monthly tax payments.
How to calculate monthly payment on a mortgage
For this, you have to understand the above mentioned formula very well, after that you will be able to easily calculate the monthly payment of mortgage.