The primary reason that leasing generally yields lower monthly
payments is that although you are still paying the interest based
on the full amount of the loan, the capital parts of the payments
only have to add up to the difference between the loan and the
Residual Value. With r = R/1200, the following formula calculates
the monthly payment and can be reduced to the Loan Calculator
formula when F = 0.
Scenario #2: Find the Interest Rate
Loan Amount (C) =
Residual Value (F) =
Monthly Payment (P) =
Number of Months (N) =
Interest Rate % (R) =
For given C, P and N, one can only solve the following equation
for r by numerical means.
Given the rather smooth behavior of this equation, this calculator
employs the Newton-Raphson method with an educated initial guess:
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