Reviewed By: Scott Hickam (MBA, Finance)
Enter a loan balance, annual interest rate, and the weekly interest value to calculate the missing variable.
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Weekly Interest Formula
The following formula is used by the calculator above to determine the weekly interest of a loan or mortgage.
WI = LB X AIR / 52
- Where WI is the weekly interest ($)
- LB is the loan balance ($)
- AIR is the annual interest rate
- 52 is the number of weeks in a year
To calculate weekly interest, multiply the loan balance by the annual interest rate, then divide by 52.
This formula calculates the total interest you would pay each week on a loan throughout its lifetime. This will not equal your actual payments since that is most often paid in terms of months.
Weekly Interest Definition
Weekly interest is the interest accrued on a loan or credit on a weekly basis, computed based on the annual interest rate and the total loan balance.
