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more free magazines         Scenario 1: Find the Amount of Payment Loan Amount (C):  Interest Rate % (R):  Compound Frequency (m) Daily (365/Yr) Daily (360/Yr) Weekly (52/Yr) Bi-Weekly (26/Yr) Twice a Month (24/Yr) Monthly (12/Yr) Bi-Mmonthly (6/Yr) Quarterly (4/Yr) Semi-Annually (2/Yr) Annually (1/Yr) No. of Payments (N):  Payment Frequency (q) Daily (365/Yr) Daily (360/Yr) Weekly (52/Yr) Bi-Weekly (26/Yr) Twice a Month (24/Yr) Monthly (12/Yr) Bi-Monthly (6/Yr) Quarterly (4/Yr) Semi-Annually (2/Yr) Annually (1/Yr) Payment Amount (P): Interest rate R% is always a yearly figure. However, in most loan situations it is compounded monthly. In this calculator the Payment Amount P is calculated by the following formula where r is the adjusted equivalent interest rate For most loans, interests are compounded monthly and payments are also made monthly (m=q=12). r is then simplified to R/1200: Note that the number 100 is to convert the percentage value R% to decimal.    Scenario 2: Find the Interest Rate Loan Amount (C):  Payment Amount (P):  No. of Payments (N):  Payment Frequency (q) Daily (365/Yr) Daily (360/Yr) Weekly (52/Yr) Bi-Weekly (26/Yr) Twice a Month (24/Yr) Monthly (12/Yr) Bi-Monthly (6/Yr) Quarterly (4/Yr) Semi-Annually (2/Yr) Annually (1/Yr) Compound Frequency (m) Daily (365/Yr) Daily (360/Yr) Weekly (52/Yr) Bi-Weekly (26/Yr) Twice a Month (24/Yr) Monthly (12/Yr) Bi-Monthly (6/Yr) Quarterly (4/Yr) Semi-Annually (2/Yr) Annually (1/Yr) Interest Rate % (R): For given C, P and N, one can only solve the following equation for r by numerical means. Given the rather smooth behavior of this equation, this calculator employs the Newton-Raphson method with an educated initial guess: The annual interest rate R% is     Scenario 3: Find the Number of Payments Loan Amount (C):  Interest Rate % (R):  Compound Frequency (m) Daily (365/Yr) Daily (360/Yr) Weekly (52/Yr) Bi-Weekly (26/Yr) Twice a Month (24/Yr) Monthly (12/Yr) Bi-Monthly (6/Yr) Quarterly (4/Yr) Semi-Annually (2/Yr) Annually (1/Yr) Payment Amount (P):  Payment Frequency (q) Daily (365/Yr) Daily (360/Yr) Weekly (52/Yr) Bi-Weekly (26/Yr) Twice a Month (24/Yr) Monthly (12/Yr) Bi-Monthly (6/Yr) Quarterly (4/Yr) Semi-Annually (2/Yr) Annually (1/Yr) No. of Payments (N): This calculator figures out the Number of Payments N by the following closed-form expression: Notice that N has to be an integer, so the Payment Amount P might be slightly adjusted to satisfy this condition.  