Online finance calculators
Calculate loans and amortization schedules and deposit interest, and create your Europass CV. Pick a tool from the menu on the left or from the cards below; formulas, notes and frequently asked questions are further down.
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Loans and savings
Two calculators for loans and deposits. Choose the tool: it opens at the top of this page.
Europass CV
Main formulas
The formulas below describe the most common calculation methods for loans and interest.
| Calculation | Formula | Symbols |
|---|---|---|
| Constant loan payment | R = C · i / (1 − (1 + i)−n) | C principal, i rate per period, n number of payments |
| Simple interest | I = C · r · t | r annual rate, t years |
| Compound amount | M = C · (1 + r)t | r annual rate, t years, annual compounding |
Reference formulas for loan payments and simple and compound interest.
Practical notes
For a loan with monthly payments, the rate per period is the nominal annual rate divided by 12: a 6% nominal annual rate gives i = 0.5% per month. The nominal rate should not be confused with the APR, which also includes fees and other charges. In a constant-payment schedule the payment does not change, but the interest share decreases over time while the principal share grows. Results are for information only and should be checked with a professional.
Frequently asked questions
How do you calculate the payment of a loan?
With R = C · i / (1 − (1 + i)−n). Example: for 10,000 at 5% a year in 60 monthly payments, with i = 0.05 / 12, the payment is about 188.71 and the total interest is about 1,323.
How do you calculate compound interest?
The amount is M = C · (1 + r)t. Example: 10,000 at 3% a year for 5 years, compounded annually, grows to about 11,592.74, with interest of about 1,592.74.
What is the difference between simple and compound interest?
Simple interest is calculated only on the original principal, compound interest also on the interest already earned. For 10,000 at 3% over 5 years, simple interest is 10,000 · 0.03 · 5 = 1,500, while compound interest is about 1,592.74.
How do you get the monthly rate from the annual rate?
For monthly payments, divide the nominal annual rate by 12. Example: 6% a year corresponds to 0.5% a month, so i = 0.005.