What is this calculator?
Compare cash-back with an approximate interest-rate saving.
What can you use it for?
Use this tool to compare a financial scenario using the assumptions you control. Compare cash-back with an approximate interest-rate saving.
How to use it
- Enter financed purchase amount.
- Enter cash-back offer.
- Enter regular annual rate (%).
- Enter promotional annual rate (%).
- Enter term (years).
- Select Calculate (or Generate for random tools).
- Read the answer and any additional results below the form. Check the units and the limits of the method.
Formula and method
The cash-back reduces the amount financed. The comparison holds the repayment term constant.
Worked example
Financed purchase amount: 2000000, Cash-back offer: 100000, Regular annual rate (%): 12, Promotional annual rate (%): 8, Term (years): 5. The result is 102,699.72146914 (cash-back cost minus low-rate cost).
Assumptions and limits
This is a mathematical estimate using the values you enter. Confirm real product terms, fees, tax rules and dates before acting on it.
Frequently asked questions
What inputs does the Cash Back or Low Interest Calculator need?
Use financed purchase amount, cash-back offer, regular annual rate (%), promotional annual rate (%), term (years). Read the answer and any additional results below the form. Check the units and the limits of the method.
What assumptions apply to the Cash Back or Low Interest Calculator?
This is a mathematical estimate using the values you enter. Confirm real product terms, fees, tax rules and dates before acting on it.