HCF of three numbers

Number of Months Calculator

Financial Chemistry Engineering Health More >>

↳

Loan Banking Business Common Probability Distribution More >>

⤿

Loan Repayment

✖The Monthly Payment is the amount a borrower is required to pay each month until a debt is paid off.ⓘ Monthly Payment [p]			+10% -10%
✖Interest Rate is the amount charged, expressed as a percentage of the principal, by a lender to a borrower for the use of assets.ⓘ Interest Rate [R]			+10% -10%
✖The Loan Amount is the original principal on a new loan or principal remaining on an existing loan.ⓘ Loan Amount [LA]			+10% -10%

✖The number of months is the total number of compounding intervals.ⓘ Number of Months [n]

⎘ Copy

👎

Formula

LaTeX

Reset

👍

Download Financial Formula PDF PDF Image

Number of Months Solution

STEP 0: Pre-Calculation Summary

Formula Used

Number of Months = log10((Monthly Payment/Interest Rate)/((Monthly Payment/Interest Rate)-Loan Amount))/log10(1+Interest Rate)
n = log10((p/R)/((p/R)-LA))/log10(1+R)
This formula uses 1 Functions, 4 Variables

Functions Used

log10 - The common logarithm, also known as the base-10 logarithm or the decimal logarithm, is a mathematical function that is the inverse of the exponential function., log10(Number)

Variables Used

Number of Months - The number of months is the total number of compounding intervals.
Monthly Payment - The Monthly Payment is the amount a borrower is required to pay each month until a debt is paid off.
Interest Rate - Interest Rate is the amount charged, expressed as a percentage of the principal, by a lender to a borrower for the use of assets.
Loan Amount - The Loan Amount is the original principal on a new loan or principal remaining on an existing loan.

STEP 1: Convert Input(s) to Base Unit

Monthly Payment: 28000 --> No Conversion Required
Interest Rate: 0.2 --> No Conversion Required
Loan Amount: 20000 --> No Conversion Required

STEP 2: Evaluate Formula

Substituting Input Values in Formula

n = log10((p/R)/((p/R)-LA))/log10(1+R) --> log10((28000/0.2)/((28000/0.2)-20000))/log10(1+0.2)

Evaluating ... ...

n = 0.845487952921921

STEP 3: Convert Result to Output's Unit

0.845487952921921 --> No Conversion Required

FINAL ANSWER

0.845487952921921 ≈ 0.845488 <-- Number of Months

(Calculation completed in 00.004 seconds)

You are here -

Home » Financial » Loan » Loan Repayment » Number of Months

Credits

Created by Team Softusvista

Softusvista Office (Pune), India

Team Softusvista has created this Calculator and 600+ more calculators!

Verified by Himanshi Sharma

Bhilai Institute of Technology (BIT), Raipur

Himanshi Sharma has verified this Calculator and 800+ more calculators!

< Loan Repayment Calculators

Loan Amortization

LaTeX Go Monthly Payment = (Rate of Interest*Principal Loan Amount)/(Monthly Payments in Year*(1-(1+Rate of Interest/Monthly Payments in Year)^(-Monthly Payments in Year*Time in terms of year)))

Number of Months

LaTeX Go Number of Months = log10((Monthly Payment/Interest Rate)/((Monthly Payment/Interest Rate)-Loan Amount))/log10(1+Interest Rate)

Monthly Payment

LaTeX Go Monthly Payment = Loan Amount*((Interest Rate*(1+Interest Rate)^Compounding Periods)/((1+Interest Rate)^Compounding Periods-1))

Number of Months Formula

LaTeX Go

Number of Months = log10((Monthly Payment/Interest Rate)/((Monthly Payment/Interest Rate)-Loan Amount))/log10(1+Interest Rate)
n = log10((p/R)/((p/R)-LA))/log10(1+R)

How to Calculate Number of Months?

Number of Months calculator uses Number of Months = log10((Monthly Payment/Interest Rate)/((Monthly Payment/Interest Rate)-Loan Amount))/log10(1+Interest Rate) to calculate the Number of Months, The Number of Months refers to the duration over which the borrower makes regular payments to fully satisfy the debt obligation. Number of Months is denoted by n symbol.

How to calculate Number of Months using this online calculator? To use this online calculator for Number of Months, enter Monthly Payment (p), Interest Rate (R) & Loan Amount (LA) and hit the calculate button. Here is how the Number of Months calculation can be explained with given input values -> 0.007841 = log10((28000/0.2)/((28000/0.2)-20000))/log10(1+0.2).

FAQ

What is Number of Months?

The Number of Months refers to the duration over which the borrower makes regular payments to fully satisfy the debt obligation and is represented as n = log10((p/R)/((p/R)-LA))/log10(1+R) or Number of Months = log10((Monthly Payment/Interest Rate)/((Monthly Payment/Interest Rate)-Loan Amount))/log10(1+Interest Rate). The Monthly Payment is the amount a borrower is required to pay each month until a debt is paid off, Interest Rate is the amount charged, expressed as a percentage of the principal, by a lender to a borrower for the use of assets & The Loan Amount is the original principal on a new loan or principal remaining on an existing loan.

How to calculate Number of Months?

The Number of Months refers to the duration over which the borrower makes regular payments to fully satisfy the debt obligation is calculated using Number of Months = log10((Monthly Payment/Interest Rate)/((Monthly Payment/Interest Rate)-Loan Amount))/log10(1+Interest Rate). To calculate Number of Months, you need Monthly Payment (p), Interest Rate (R) & Loan Amount (LA). With our tool, you need to enter the respective value for Monthly Payment, Interest Rate & Loan Amount and hit the calculate button. You can also select the units (if any) for Input(s) and the Output as well.

Home

FREE PDFs

🔍 Search