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Find Interest Rates on Money Market Funds
Why Do Interest Rates Vary Among Countries?
Tracking Mutual Fund Interest Rates
Compare Bank Interest Rates
How to Compare Savings Interest Rates
How to Calculate an Interest Rate
How to Deduct Interest & Taxes Paid on Your Home
How Is Compound Interest Calculated?
How to Calculate Interest on Car Loans
Definition of Interest Rates
Definition of Adjustable Interest Rates
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Summary: An interest rate is generally a percentage of the amount of a loan that a person is borrowing. Use an amortization schedule to calculate interest rates with help from a financial specialist in this free video on interest rates and loans.
Matthew McKillen has more than 21 years of industry experience in arranging loans for his clients. He has worked in financial services and senior management positions in mortgage...read more
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"Hi, this is Matt McKillen with Innovative Financial Group. The question posed today is how to calculate an interest rate. Well it's very simple, it's generally a percentage of the amount of a loan that you're borrowing or the principal of the loan. For example if you're paying 10% interest on a 100,000 loan, well 10% interest would be 10,000 dollars, that's 10% of the amount you borrowed. Now how to calculate how that's repaid is you would take that 10,000 dollars, that 10% interest that you're owed on an annual basis and you would divide it by 12 monthly payments. So in doing so that way you can figure out exactly how much of the cost of that money is based in interest repaid on an annual basis. So that's one of the ways to calculate interest, obviously the most common way to calculate interest is just whatever your note rate is on the mortgage you can look at an amortization schedule and you can see what your cost of borrowing the money is over the life of the loan. Again, my name is Matt McKillen and I'm with Innovative Financial Group."
eHow Article: How to Calculate an Interest Rate
Meet Mark P Cussen, CFP, CMFC eHow's Personal Finance Expert.
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