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Number of Months Formula

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The number of months is the total number of compounding intervals. Check FAQs

n = \log 10 \frac{\frac{\frac{p}{R}}{(\frac{p}{R}) - LA}}{\log 10} (1 + R)

n - Number of Months?p - Monthly Payment?R - Interest Rate?LA - Loan Amount?

Number of Months Example

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Here is how the Number of Months equation looks like with Values.

Here is how the Number of Months equation looks like with Units.

Here is how the Number of Months equation looks like.

0.8455 = \log 10 \frac{\frac{\frac{28000}{0.2}}{(\frac{28000}{0.2}) - 20000}}{\log 10} (1 + 0.2)

0.8455 = \log 10 \frac{\frac{\frac{28000}{0.2}}{(\frac{28000}{0.2}) - 20000}}{\log 10} (1 + 0.2)

0.8455 = \log 10 \frac{\frac{\frac{28000}{0.2}}{(\frac{28000}{0.2}) - 20000}}{\log 10} (1 + 0.2)

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Loan Repayment » fx Number of Months

Number of Months Solution

Follow our step by step solution on how to calculate Number of Months?

FIRST Step Consider the formula

n = \log 10 \frac{\frac{\frac{p}{R}}{(\frac{p}{R}) - LA}}{\log 10} (1 + R)

Next Step Substitute values of Variables

∴

n = \log 10 \frac{\frac{\frac{28000}{0.2}}{(\frac{28000}{0.2}) - 20000}}{\log 10} (1 + 0.2)

Next Step Prepare to Evaluate

∴

n = \log 10 \frac{\frac{\frac{28000}{0.2}}{(\frac{28000}{0.2}) - 20000}}{\log 10} (1 + 0.2)

Next Step Evaluate

∴

n = 0.845487952921921

LAST Step Rounding Answer

∴

n = 0.8455

Number of Months Formula Elements

Variables

Functions

Number of Months

The number of months is the total number of compounding intervals.

Symbol: n

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Number of Months

Monthly Payment

The Monthly Payment is the amount a borrower is required to pay each month until a debt is paid off.

Symbol: p

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Monthly Payment

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.

Symbol: R

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Interest Rate

Loan Amount

The Loan Amount is the original principal on a new loan or principal remaining on an existing loan.

Symbol: LA

Measurement: NAUnit: Unitless

Note: Value can be positive or negative.

Formulas to find Loan Amount

log10

The common logarithm, also known as the base-10 logarithm or the decimal logarithm, is a mathematical function that is the inverse of the exponential function.

Syntax: log10(Number)

Other formulas in Loan Repayment category

Go Monthly Payment

p = LA \cdot (\frac{R \cdot {(1 + R)}^{CP}}{{(1 + R)}^{CP} - 1})

Go Loan Amortization

p = \frac{roi \cdot P}{MP Year \cdot (1 - {(1 + \frac{roi}{MP Year})}^{- MP Year \cdot T})}

How to Evaluate Number of Months?

Number of Months evaluator uses Number of Months = log10((Monthly Payment/Interest Rate)/((Monthly Payment/Interest Rate)-Loan Amount))/log10(1+Interest Rate) to evaluate the Number of Months, The Number of Months refers to the duration over which the borrower makes regular payments to fully satisfy the debt obligation. Number of Months is denoted by n symbol.

How to evaluate Number of Months using this online evaluator? To use this online evaluator for Number of Months, enter Monthly Payment (p), Interest Rate (R) & Loan Amount (LA) and hit the calculate button.

FAQs on Number of Months

What is the formula to find Number of Months?

The formula of Number of Months is expressed as Number of Months = log10((Monthly Payment/Interest Rate)/((Monthly Payment/Interest Rate)-Loan Amount))/log10(1+Interest Rate). Here is an example- 0.007841 = log10((28000/0.2)/((28000/0.2)-20000))/log10(1+0.2).

How to calculate Number of Months?

With Monthly Payment (p), Interest Rate (R) & Loan Amount (LA) we can find Number of Months using the formula - Number of Months = log10((Monthly Payment/Interest Rate)/((Monthly Payment/Interest Rate)-Loan Amount))/log10(1+Interest Rate). This formula also uses Common Logarithm (log10) function(s).

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Number of Months Formula

Number of Months Example

Number of Months Solution

Number of Months Formula Elements

Other formulas in Loan Repayment category

How to Evaluate Number of Months?

FAQs on Number of Months

Variable Name