MPR Calculator

MPR Calculator calculator can be used to calculate the monthly payment rate (MPR) for loans based on principal amount, interest rate, and loan term.

Input Parameters

Calculation Results

Calculation Formula

MPR = P × (r/12) × (1 + r/12)^n / [(1 + r/12)^n - 1]

Where:
P = Principal Amount
r = Annual Interest Rate
n = Number of Payments (months)

MPR Calculator Calculator Usage Guide

Learn how to use the MPR Calculator calculator and its working principles

How to Use the MPR Calculator

  1. Enter the principal amount of your loan (the initial amount borrowed)
  2. Input the annual interest rate for your loan as a percentage
  3. Specify the loan term in years
  4. Click the "Calculate" button to compute your monthly payment rate (MPR)

Understanding the Results

  • Monthly Payment Rate (MPR): This is the fixed amount you need to pay each month to repay your loan
  • Total Payment: The total amount you will pay over the entire loan term
  • Total Interest Paid: The total interest cost of the loan

Working Principle

The MPR calculator uses the standard loan amortization formula to calculate your monthly payment. It takes into account:

  • Your principal amount (the original loan amount)
  • The interest rate (which is converted to a monthly rate)
  • The loan term (converted to months)

Example

For a loan of ₹100,000 with an annual interest rate of 10% over 5 years:

MPR = ₹100,000 × (10%/1200) × (1 + 10%/1200)^60 / [(1 + 10%/1200)^60 - 1] = ₹1,820.35

Total Payment = ₹1,820.35 × 60 = ₹109,221.00

Total Interest Paid = ₹109,221.00 - ₹100,000.00 = ₹9,221.00