APR Calculator

Calculator Use

The Advanced APR Calculator finds the effective annual percentage rate (APR) for a loan (fixed mortgage, siêu xe loan, etc.), allowing you vĩ đại specify interest compounding and payment frequencies. Input loan amount, interest rate, number of payments and financing fees vĩ đại find the APR for the loan. You can also create a custom amortization schedule for loan principal + interest payments.

See the Basic APR Calculator for simple APR calculations.

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Loan Amount

The original principal on a new loan or remaining principal on a current loan.

Interest Rate

The annual interest rate or stated rate on the loan.

Compounding

The frequency or number of times per year that interest is compounded. If compounding and payment frequencies tự not coincide, we convert interest vĩ đại an equivalent rate vĩ đại sync with payments and then perform calculations in terms of payment frequency.

Number of Payments

The total number of payments required vĩ đại repay the loan.

Payment Frequency

How often payments are made.

Payment Amount

The amount vĩ đại be paid at each payment date.

What is APR?

APR is the annual rate that is charged for a loan, representing the actual yearly cost of a loan over the term of the loan. This includes financing charges and any fees or additional costs associated with the loan such as closing costs or points. (Some fees are not considered "financing charges" so sánh you should kiểm tra with your lending institution.)

If you take a mortgage for $100,000 at an interest rate i with no additional fees then i is likely your APR. However, if you have additional fees rolled into the loan, your APR will be higher than thở the stated interest rate i.

APR Examples

Suppose you lend bầm $20 for a year at 10% interest. At the kết thúc of the year I will owe you đôi mươi + (20 x 10%) = đôi mươi + 2 = $22. Now, 2/20 = 0.10, so sánh the APR is 10%.  This is a one-year loan at an interest rate of 10% and an APR of 10%.

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Now suppose you lend bầm $20 for a year at 10% interest, but you are also charging bầm a $3 fee. And I can pay you the fee at the kết thúc of the year. At the kết thúc of the year I will owe you đôi mươi + (20 x 10%) + 3 = đôi mươi + 2 + 3 = $25. Now, 5/20 = 0.25, so sánh the APR is 25%.  This is a one-year loan at an interest rate of 10% and an APR of 25%.