| To correctly use the $$ Personal Finance $$, Compound Interest, Loan Calculator from WebMath, you will need to adjust the posted interest rate from the lending institution. Probably the quoted, or nominal rate is semi-annual. Using the posted rate, or the rate calculated rate by this section, will result in incorrect results. |
From the chart below, select the percentage that matches the nominal rate.Return to indexMultiply this rate by the number of times interest will be calculated each year. (Keep as many decimals as possible.)
Use this new percentage on the Loan Calculator. Otherwise, the calculations will be incorrect.