Questions tagged [apr]
Annual Percentage Rate
76
questions
1
vote
1
answer
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Confusion with payment calculation for fixed payments on fixed interest loan
I'm trying to understand how to calculate the monthly payments on a fixed interest loan with a given term. I understand this can be done with the PMT excel function.
Whenever I see this explained ...
- 13
11
votes
4
answers
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0 APR Promotional Offer For Credit Cards
I’m currently learning about personal finance and I just found out that there are some credit cards that will give zero interest rate for a certain period of time (10-20 months).
I know that to get a ...
- 115
13
votes
5
answers
8k
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Should I pay off mortgage or invest in CD?
I am confused about the mortgage rates in APR vs CD rates that I could invest in [US].
I have a mortgage loan that I got with 2.875 APR. I could pay that off or invest that money in a CD with rate of ...
- 273
1
vote
1
answer
104
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If APY factors compounding (while APR doesn't), shouldn't APY always be higher than APR?
So, from what I understand:
APR: rate advertised to borrowers (without compounding)
APY: rate advertised to lenders (with compounding)
So, for a loan with APR of 6%, that compounds monthly:
APY = (...
16
votes
4
answers
8k
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Why am I being declined for credit card offers?
I tried applying for a new credit card, as the only one I had strangely jumped from 2% to 35% APR unexpectedly, without any reason I could tell, and customer service was unhelpful. I plan to cut the ...
- 2,813
0
votes
1
answer
385
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How to calculate the APR on an investment?
I'm trying to boil this scenario down to an equation:
A token is worth $1.50. There is a total of 100 tokens invested. Last week, this investment earned $2 in interest.
Given this, how would I ...
- 103
3
votes
1
answer
148
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Are ongoing credit card charges added to the revolving balance and interest calculations immediately following a carried balance
Say I have a credit card, and I carry a balance of $200 from my statement at the end of the month of June. Are all transactions from the month of July immediately added to the revolving balance and ...
- 33
7
votes
4
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3k
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Can I get a late payment on my credit card if apr is 0% for the first 21 months?
Can I get a late payment on my credit card if APR is 0% for the first 21 months? (through a Chase Slate Edge intro offer)
(I've always paid on time but I am in a situation where I might need to avail ...
- 693
1
vote
1
answer
98
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What do the various types of APR mean on my credit card?
I am looking at APR details and want to understand how it works.
I see a credit card that says:
Introductory APR - 0% for 15 billing cycles
Standard APR - 14.74% -
24.74% variable
Balance Transfer ...
- 681
1
vote
0
answers
121
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Understanding/Calculate effective annual rate and savings
I came across the following exercise:
You put $1000 into a savings account today that offers a 5% APR with semi-annual compounding.
What is the effective annual rate of the saving account?
How much ...
- 11
6
votes
2
answers
1k
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Does increasing loan term increase APR?
I am taking out a personal loan to consolidate debts from various sources into one payment at a lower APR.
The loan company lets me choose 24, 60, 72, etc. months to repay on the application. I can't ...
- 2,813
2
votes
1
answer
98
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What's the APR for this in combination with the Balloon Payment of 6525 USD?
I am trying to solve the following:
Finance Amount: 24.951,82 USD
Interest Rate: 2.29%
Residual Value: 6.525 USD
Number of Months: 60
Fee: 374.28
Years: 5
What's the APR for this in combination with ...
- 21
1
vote
2
answers
1k
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Calculating Effective Annual Interest Rate & Annual Percentage Rate with fees (in R)
Problem
How to calculate Effective Annual Interest Rate (EAR) and Annual Percentage Rate (APR) with fees (in R) ?
I am interested in getting to know how much I am actually paying interest when fees ...
- 69
2
votes
2
answers
1k
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Is it ever worth it to refinance an auto loan for a higher APR?
I recently moved into a new place/city and am looking to free up some room in my monthly budget. For the first time in about 3-5 years, I shopped for new car insurance and then looked into an auto ...
- 145
38
votes
8
answers
7k
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Is 0% APR ever a bad idea?
I have recently purchased a few large items of furniture for my new home and paid a ~25% deposit on these. To pay off the remainder I can pay in full or pay monthly with a 0% APR payment plan.
e.g I ...
- 1,668