Apply for financingInterest calculator
This interest calculator runs three kinds of interest. Simple interest is principal times rate times time. Compound interest adds interest on the interest. Loan mode is the total interest on a fixed amortizing payment. The rate is an assumption you type. It is not an offer from Dengaro or from a lender.
Simple interest
$1,800.00
Illustrative estimate only, not a financing offer. The rate is an assumption you set. Actual rates, terms and payments depend on a financing provider’s review.
How it works
Simple interest is I = P × r × t, with r as a decimal and t in years. Compound interest is A = P × (1 + r ÷ n) ^ (n × t), and the interest is A minus P. n is how many times a year the interest compounds. An amortizing loan is different: each payment pays interest on the remaining balance and a piece of principal, using a monthly rate of APR ÷ 12. The loan mode uses that standard payment formula and sums the interest. It does not add fees, and it is not the rate a financing provider will approve.
Formula
Loan interest is the sum of the interest portions of a fixed monthly payment, not the simple-interest product. Switching modes changes the formula. Compare them on the same principal and rate and the totals will not match. That is expected.
Example
Interest is $1,800.00 and the total is $11,800.00. The same principal, rate, and time compounded monthly uses the compound formula and a higher total, because each month's interest joins the balance. Loan mode on a term of months is a third number. None of these is a quoted APR.
Tips
Type the rate you want to test. A lower rate lowers the interest in every mode. It does not mean that rate is offered. Dengaro is an equipment-financing broker operated by Funding Routes LLC. Providers set terms after review.
Equipment
If the principal is the equipment you want to finance, the button carries that amount into the application. Requests run from $15,000 to $2 million. A small illustration can still be calculated here. Approval is not guaranteed.
Important questions
Simple interest charges the rate on the original principal only. Compound interest adds unpaid interest to the balance, so later periods charge interest on a larger amount. The compound control sets how often that happens.
An amortizing payment reduces the principal every month, so the interest in later months is smaller. The total is less than simple interest on the full principal for the whole term, at the same nominal rate.
No. Every rate on this interest calculator is an input for illustration. An equipment financing rate depends on the provider's review of the business, the owners, and the equipment.
The application can open with the principal filled in as the amount. The rate does not carry over as an offer. Dengaro does not decide credit.
Financing built into the sale