Questions tagged [apr]
Annual Percentage Rate
76
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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
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2
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622
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EU APR calculation, solving for APR
I'm looking for some help with a finance homework. We've been given the FCA calculation for APR:
Source: https://www.handbook.fca.org.uk/publication/handbook/graphic/13449.png
We've also been given a ...
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1
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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
2k
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What is the formula for calculating the months till pay off of a credit card that includes the APR?
I'm playing around in Excel attempting to get the total months to pay off a credit card. I'm not looking to pay off by a certain date. I just want to know how long it will take me to pay off what I ...
- 103
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2
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0% intro APRs complicating payoff plans
So I'm in not-the-best™ position with about 15K in undesirable credit card debt (And another 5K in permanent no-interest deferred payment plans). I'm trying to calculate what the optimal payoff ...
- 115
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Why does APR not include compounding?
As I understand it the Annual Percentage Rate (APR) formula does not take compounding into account. It is, in effect, a nominal rate.
Why is this? I thought that APR was designed to allow consumers to ...
- 461
2
votes
4
answers
147
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What are some rule of thumb criteria to choose loans?
When one wants to take on a loan, they can do so from multiple banks. There are also comparison websites that allow you to see various loan offers from each bank. Most of them use the annual ...
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Debt management: 0% CC APR for 15 months vs 7% student loan debt
About me:
I make about $3330 a month from my job after taxes.
I'm currently $72,500 in debt from student loans, 7% APR. I have 0 other forms of debt (I live with my parents and bought a used car for ...
- 1,030
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1
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How does one calculate the following loan problems? [closed]
1.) Calculate the total interest to be paid on the loan during it's lifetime. Compute for BOTH compound interest and simple interest models.
Start Principal = $21,315.00,
Date of Disbursement = 9/...
4
votes
2
answers
389
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Help on calculating credit card interest
Below is a summary of my current statement Apr 21 2019 - May 2019:
The APR is 25.24%
I had a promotional 0% APR till Apr 20.
This is it google drive link
I have tried my best to calculate the ...
- 41
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What is the formula to get the Interest percentage from Interest Rate?
What is the formula to get the Interest percentage from Interest Rate?
Given :
Principal Amount : $1000
Interest Rate : $1 / Month
Number of payments : 10
What is the formula to fetch the ...
- 1,117
19
votes
2
answers
4k
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What is Cash Advance APR?
I just got my first credit card. I haven't spent anything on it but I see that the Cash Advance APR is 27.5%.
Can someone tell me in layman terms what this means?
- 693
2
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2
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202
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Balance transfer fee
I am getting my first credit card ever and I am trying to learn how it works.
I got through most of the documentation but I am trying to understand this:
0% Intro APR for 15 months from account ...
- 693
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1
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How to calculate APR on asset appreciation
When I search for APR calculators, I only find mortgage and credit repayment calculators.
I am looking for the opposite. I want to calculate APR on asset appreciation.
I bought something for $15.k ...
- 405
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3
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5k
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20% APR means only 10% interest? (UK)
I am trying to get better grasp of what the APR figure means, so this example is purely hypothetical.
I have entered a loan of £100,000 into an APR calculator on MoneySuperMarket with a 20% APR for ...
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