Number of Months Solution

STEP 0: Pre-Calculation Summary
Formula Used
Number of Months = log10((Monthly Payment/Interest Rate)/((Monthly Payment/Interest Rate)-Loan Amount))/log10(1+Interest Rate)
n = log10((p/R%)/((p/R%)-Loan Amt))/log10(1+R%)
This formula uses 1 Functions, 4 Variables
Functions Used
log10 - Common logarithm function (base 10), log10(Number)
Variables Used
Number of Months - The number of months is the total number of compounding intervals.
Monthly Payment - The monthly payment is the amount a borrower is required to pay each month until a debt is paid off.
Interest Rate - Interest Rate is the amount charged, expressed as a percentage of the principal, by a lender to a borrower for the use of assets.
Loan Amount - The loan Amount is the original principal on a new loan or principal remaining on an existing loan.
STEP 1: Convert Input(s) to Base Unit
Monthly Payment: 28000 --> No Conversion Required
Interest Rate: 6 --> No Conversion Required
Loan Amount: 1000 --> No Conversion Required
STEP 2: Evaluate Formula
Substituting Input Values in Formula
n = log10((p/R%)/((p/R%)-Loan Amt))/log10(1+R%) --> log10((28000/6)/((28000/6)-1000))/log10(1+6)
Evaluating ... ...
n = 0.123932781240678
STEP 3: Convert Result to Output's Unit
0.123932781240678 --> No Conversion Required
0.123932781240678 <-- Number of Months
(Calculation completed in 00.000 seconds)
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< 2 Loan Repayment Calculators

Number of Months
Number of Months = log10((Monthly Payment/Interest Rate)/((Monthly Payment/Interest Rate)-Loan Amount))/log10(1+Interest Rate)
Monthly Payment
Monthly Payment = (Loan Amount*Interest Rate*(1+Interest Rate)^Compounding Periods)/((1+Interest Rate)^Compounding Periods)-1

Number of Months Formula

Number of Months = log10((Monthly Payment/Interest Rate)/((Monthly Payment/Interest Rate)-Loan Amount))/log10(1+Interest Rate)
n = log10((p/R%)/((p/R%)-Loan Amt))/log10(1+R%)

How to Calculate Number of Months?

Number of Months calculator uses Number of Months = log10((Monthly Payment/Interest Rate)/((Monthly Payment/Interest Rate)-Loan Amount))/log10(1+Interest Rate) to calculate the Number of Months, The number of months is the total number of months remaining until a debt is paid off. Number of Months is denoted by n symbol.

How to calculate Number of Months using this online calculator? To use this online calculator for Number of Months, enter Monthly Payment (p), Interest Rate (R%) & Loan Amount (Loan Amt) and hit the calculate button. Here is how the Number of Months calculation can be explained with given input values -> 0.123933 = log10((28000/6)/((28000/6)-1000))/log10(1+6).

FAQ

What is Number of Months?
The number of months is the total number of months remaining until a debt is paid off and is represented as n = log10((p/R%)/((p/R%)-Loan Amt))/log10(1+R%) or Number of Months = log10((Monthly Payment/Interest Rate)/((Monthly Payment/Interest Rate)-Loan Amount))/log10(1+Interest Rate). The monthly payment is the amount a borrower is required to pay each month until a debt is paid off, Interest Rate is the amount charged, expressed as a percentage of the principal, by a lender to a borrower for the use of assets & The loan Amount is the original principal on a new loan or principal remaining on an existing loan.
How to calculate Number of Months?
The number of months is the total number of months remaining until a debt is paid off is calculated using Number of Months = log10((Monthly Payment/Interest Rate)/((Monthly Payment/Interest Rate)-Loan Amount))/log10(1+Interest Rate). To calculate Number of Months, you need Monthly Payment (p), Interest Rate (R%) & Loan Amount (Loan Amt). With our tool, you need to enter the respective value for Monthly Payment, Interest Rate & Loan Amount and hit the calculate button. You can also select the units (if any) for Input(s) and the Output as well.
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