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APR Calculator

Home » APR Calculator

Interactive APR (Annual Percentage Rate) Calculator

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

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

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.

%
Joining a debt consolidation program can reduce your APR by reducing Interest Rate and extra cost, here you can check the effect of reduced interest rate on debt repayment.

Monthly Payment = $
Total Payment = $
Total Interest =$

Months Payments Interest Paid Principal Paid Balance
1 8.46 0.08 8.38 92.62
2 8.46 0.08 8.38 84.24
3 8.46 0.07 8.39 75.85
4 8.46 0.06 8.4 67.45
5 8.46 0.06 8.4 59.05
6 8.46 0.05 8.41 50.64
7 8.46 0.04 8.42 42.22
8 8.46 0.04 8.42 33.8
9 8.46 0.03 8.43 25.37
10 8.46 0.02 8.44 16.93
11 8.46 0.01 8.45 8.48
12 8.46 0.01 8.48 Paid

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