Auto Loan Calculator

AUTO LOAN CALCULATOR Interest Calculator taking a loan, one should take into consideration, both the inifial borrowed amount of money in addition to the interest amount. Actual Calculation P= Principal, the initial amount of the loan. Principal (P) In a loan, the borrower borrows an amount of money, called the principal, from the lender, the borrower is obligated to pay back the same amount of money to the lender. R = Interest Rate Interest Rate (R) An ințerest rate is the rate at which interest is paid by a borrower for the use of money that Fhey borrow from a lender. Time Years/ Months T= Ttime in Years/ Months The period of the loan, whether its a few months or yèars. || = Prt 3+1=4 principal amount of the loan times by the interest rate of the loan and times by the period of the loan (years/ months)