Annual Percentage Rate Calculator
This calculator will work out the APR for loans with regular, fixed repayments including additional mandatory fees or charges made at the start or end. Using the loan or mortgage amount, repayment amounts, term and any additional fees which are to be charged at the start or end of your loan term, the APR calculator will be able to work out the Annual Percentage Rate charged for finance.
APR or Annual Percentage Rate is a measure of the cost of credit on a yearly basis. It enables two finance products to be compared because it takes into account all the fees/charges that accompany the product. Another measure of comparison is the total amount repayed as this enables comparison of finance products with different borrowing periods. The total amount repayed less the amount borrowed is the true cost of credit. APR should be quoted on all finance advertisements to provide a relaible basis for comparison.
Note that APR does not take into account penalty charges that may be incurred if you miss a payment or optional fees from things like balance transfers on credit cards.(300 pixels x 250 pixels)
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