Loan interest rates can be calculated with a loan amortization calculator and by knowing whether interest rates are fixed or variable, according to About.com. These methods can help borrowers understand their monthly payments, how much of the payment consists of interest, and how much future payment
Both the earned income credit and the child tax credit are calculated based on income in a given year, according to the Internal Revenue Service. The earned income credit is based on adjusted gross income, while the child tax credit is based on modified adjusted gross income.
Many financial and government websites have compound interest calculators, such as Bankrate.com and Investor.gov. In addition, some mathematics-oriented websites also have compound interest calculators to illustrate particular uses of calculus in business, explains The Calculator Site.
To calculate the monthly interest on a mortgage, multiply the current loan balance by the yearly interest rate, and divide that number by 12. You can also use an online mortgage calculator to determine the interest on your mortgage loan.
Accelerated Reader (AR) points are awarded based on performance on the AR quizzes and the level of the book read, says About.com. It's possible to earn more AR points by reading more books, reading more difficult or lengthy books and performing well on AR quizzes.
Calculate daily interest on a loan by visiting AIE.org and using its online daily interest calculator. This tool is particularly designed for students with academic loans, notes AIE.org.
Calculate payments on a simple interest loan by first multiplying the principal amount by the interest rate and the length of the loan term. Add the interest to the principal amount and then divide by the number of payments to be made.
The Annual Percentage Rate for mortgage interest is calculated in two steps, according to Bankrate. First, solve for the APR payment amount. This number will be different from the actual payment amount. Next, determine what interest rate is required to get the APR payment amount.
You can calculate your mortgage interest deduction using the calculator available from Bankrate, or by filling out an IRS Schedule A using the information on your mortgage interest statement, according to the IRS. The lender who holds the mortgage sends the homeowner a mortgage interest statement, o
Apart from principal and interest rate, prospective borrowers need to know the length of time over which a loan is to be paid in order to calculate monthly payments, explains the Consumer Financial Protection Bureau. Insurance and other costs should also be considered when calculating such payments.