Installment calculator
Enter the price, down payment, months and interest rate to see the monthly installment and a dated schedule. Useful for shops selling on installments and for buyers comparing offers.
Monthly installment
- Financed amount (after down payment)
- 10,000.00
- Total interest
- 2,000.00
- Total installments
- 12,000.00
- Total paid (incl. down payment)
- 14,000.00
- Extra over cash price
- 2,000.00
- Effective annual rate (approx.)
- 35.07%
Calculated with a flat rate over the whole term, the common method in installment shops. Indicative only; the contract sets the terms.
Installment schedule
| # | Due date | Installment | Principal | Interest | Remaining |
|---|
How is it calculated?
Financed amount = price − down payment.
Interest = financed amount × rate.
Installment = (financed amount + interest) ÷ months; the last one absorbs rounding.
The effective annual rate is calculated on the declining balance, so it is higher than the flat rate divided by years - it lets you compare two offers fairly.
Example
A device at EGP 12,000, 2,000 down, the remaining 10,000 over 12 months at 20%: interest 2,000, installment EGP 1,000 a month, total paid 14,000. Read: selling on installments without losing money
FAQ
How do I calculate the monthly installment?
Subtract the down payment from the price, add the interest to the rest and divide by the number of months. For example 10,000 at 20% over 12 months = 12,000 ÷ 12 = EGP 1,000.
What is the difference between the stated and the effective rate?
The stated rate is charged on the full amount for the whole term, although what you owe falls each month, so the effective annual rate is higher. The calculator shows both.
How many months should I choose?
Longer terms lower the installment but usually raise total interest. Compare "total paid" across terms before deciding.
Can a shop do this on the invoice directly?
Yes. In EA Core you turn a sales invoice into an installment contract with a down payment and guarantor; the schedule is generated and customers get WhatsApp reminders.
Selling on installments?
EA Core creates the contract from the invoice, prints receipts, reminds customers on WhatsApp and shows who is late and by how much.