Interest Rate Calculator

Work backward from a loan amount, monthly payment, and term to the interest rate (APR) you're effectively paying.

Your details

Loan amount$Monthly payment$Term (years)5

130

Implied APR

7.42%

Implied APR7.42%

Formula

Solves for the rate in the amortization formula so the payment matches — computed by numerical search.

Sources & methodology

•CFPB — loans — CFPB

Last updated: 2026-07-20

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