All Questions
Tagged with apr interest-rate
22
questions
1
vote
1
answer
87
views
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
4k
views
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
1
vote
1
answer
106
views
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 = (...
1
vote
2
answers
1k
views
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
0
votes
1
answer
173
views
Refinance Calculator - use Interest Rate or APR?
I am using the NerdWallet Refinance Calculator to compare current loan with new loan.
https://www.nerdwallet.com/mortgages/refinance-calculator/calculate-refinance-savings
My question is should I put ...
- 117
1
vote
1
answer
2k
views
Formula for calculating the monthly payment for a Personal Contract Purchase
How can I calculate the monthly payment for a PCP (Personal Contract Purchase) when given the variables below?
'Amount to be financed' - finance amount
APR (annual percentage rate - %)
Length of ...
- 13
0
votes
1
answer
217
views
How to compare the APRs of different currencies?
I want to take a loan and I have two options:
Euros APR: 7.2% terms: 10 years
Yuan APR: 9.2% terms: 5 years
I have taken some financial classes so I have a vague idea about it. I know there is an ...
user79408
6
votes
2
answers
13k
views
How is interest calculated on PCP agreements?
in December 2018, I'll be at the end of my PCP agreement for my current car and I'm weighing up my options. I've never really paid attention to the details about my previous finance agreements - I ...
- 163
4
votes
4
answers
20k
views
What is the difference between APR, IRR, and effective rate?
I've been working on constructing an Excel spreadsheet that will calculate an APR (for loans in the US). In researching which built-in formula to use, I've seen websites refer to the "effective rate,"...
- 285
25
votes
7
answers
22k
views
Should I pay for a computer up-front or on finance?
This reads a bit like a home-work question, but this is actually my situation. The job I've taken is a BYOD (bring your own device), workplace and I prefer to use my own equipment.
I've just started ...
user67312
2
votes
1
answer
174
views
Converting interest rates
I have found a monthly interest rate, 0.72%
Now, I would like to convert this monthly rate to:
Equivalent annual nominal rate of interest payable half yearly, and
Equivalent annual nominal rate of ...
- 53
2
votes
3
answers
11k
views
What does APR mean I'm paying?
I've read every article and post on the internet and I'm still confused.
I'm getting a credit card with a 19.9% APR with no annual or monthly fees.
I read that APR is the annual rate for borrowing. ...
- 21
0
votes
1
answer
108
views
Lowest Interest Options for Short-Term Loan
I am looking for a short-term loan in the amount of $15k to buy some household items.
I will be able to return the money in full by 3 months
I have a credit score of 760+.
Currently, I am seeing ...
1
vote
4
answers
6k
views
How to calculate Annual Percentage Rate of a loan with unequal periodic payments?
Let's say we borrow a loan of $1000. We pay back to bank $100 per month but for some stupid reason the last payment is smaller and equals $50. This is a common case in my country. How then the APR ...
- 163
3
votes
1
answer
223
views
Formal Definition of APR
I have seen several conflicting sources on the internet about APR. Some say the effective rate is (1+APR/n)^n -1 while others say this formula is the APR since APR represents the rate over all ...
- 31