How do you calculate total payment?

Divide your interest rate by the number of payments you’ll make in the year (interest rates are expressed annually). So, for example, if you’re making monthly payments, divide by 12. 2. Multiply it by the balance of your loan, which for the first payment, will be your whole principal amount.Click to see full answer. Similarly one may ask, how do you calculate total interest rate?To calculate interest rate, start by multiplying your principal, which is the amount of money before interest, by the time period involved (weeks, months, years, etc.). Write that number down, then divide the amount of paid interest from that month or year by that number.Similarly, how do you calculate finance cost? To calculate the cost of debt, a company must determine the total amount of interest it is paying on each of its debts for the year. Then it divides this number by the total of all of its debt. The result is the cost of debt. The cost of debt formula is the effective interest rate multiplied by (1 – tax rate). Also question is, how do you calculate the total cost of a mortgage? How to Calculate the Total Cost of Your Mortgage N = Number of periods (number of monthly mortgage payments) M = Monthly payment amount, calculated from last segment. P = Principal amount (the total amount borrowed, minus any down payments) What is total interest percentage?The Total Interest Percentage (TIP) is a disclosure that tells you how much interest you will pay over the life of your mortgage loan. The total interest percentage is calculated by adding up all of the scheduled interest payments, then dividing the total by the loan amount to get a percentage.