It is important to evaluate the total cost of a loan
- Tuesday, 7th February 2012
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How to calculate the APR
(Annual Percentage Rate). The APR calculator is intended to help you find the annual percentage rate (APR)
on a mortgage or loan. With a loan's rate, term, and initial amount
borrowed, the calculator can help you
figure out which loan is best for you.
The APR Explained
Annual Percentage Rate (APR) is the equivalent interest rate considering all the added costs
to a given loan. Naturally, it is a function of the loan amount, the interest rate,
the total added cost, and the term.
Use this calculator to determine the APR.
APR (Annual Percentage Rate) Calculator
Annual Percentage Rate (APR) is a way to compare the true costs of a loan. By taking into consideration the interest rate, and term of loan it gives you a standard benchmark for comparing the percentage costs on different loans.