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APR Calculator determines annual percentage rate on your bills


The APR is the actual yearly interest rate paid by a borrower, figuring in the points charged to initiate the loan and other costs.

Interactive APR (Annual Percentage Rate) Calculator

Calculate actual interest rate you are paying due to additional cost of loan


Principal
Amount of money borrowed
Additional Cost
Processing fee, bond fee etc
Interest Rate
Percentage of interest paid annually on principal
No of Months
No. of months over which you will repay this loan


An Example

Here is a short example of how to calculate the APR and see how it differs from normal interest rates:

Loan Amount (P) =
$100

Additional Cost (E) =
$5

Interest Rate (I) =
12%

Monthly Interest Rate (r) =
R/100*12=0.01

Number of month (n) =
1

Now, applying Newton-Raphson Method, we get an APR (A) =0.0605*1200=72.60%

From the above calculation, we see that for a loan amount of $100 with 12% interest, the APR can be as high as 72.60%, depending upon the extra costs and the time taken for repayment.

The calculation is very confusing. The calculator in this page makes that easier and faster.





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