# Interest Calculator

Use the interest calculator to easily calculate the total expenses when you purchase items using a credit card or take a payday loan.

### Interest Calculator

## Using the Interest Calculator

Calculating the interest of a loan is easy with the interest calculator. Use the interest calculator to find out e.g. the effective costs of credit card purchases and payday loans.

For example, consider a case where you purchase an item worth 2 500 euros using a Visa or other credit card and you plan on paying it back within 6 months. The bank charges an interest rate of 8.5% and the account management fee is $2.50/month. In this case, the share of interest and expenses will be €77.34 and the total expenses will be €2 577.34.