Free Interest Calculator.
Interest is a fee funded on borrowed assets. Interest can be assumed of as “rent of money”. When a fund is credited in a bank, interest is generally paid to the depositor as a percentage of the amount placed; when a fund is borrowed, interest is habitually paid to the creditor as a percentage of the amount owed. The percentage of the principal that is paid as a fee over a positive time period is called the rate of interest.
Interest is recompense to the creditor, and for forgoing other valuable investments that might have been made with the loaned asset.
Interest Calculator – About
Interest Calculator calculates monthly payments of a loan.