Lease-to-Own Calculator





Formula

The monthly interest payment is calculated using the formula:

\[ MP = \frac{L \cdot I}{100 \cdot 12} \]

Where:

Example Calculation

Let's assume the following values:

Step 1: Substitute the values into the formula:

\[ MP = \frac{10000 \cdot 5}{100 \cdot 12} = \frac{50000}{1200} \approx 41.67 \]

So, the monthly interest payment would be $41.67.