Questions tagged [apr]
Annual Percentage Rate
76
questions
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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 ...
11
votes
4
answers
4k
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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 ...
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 ...
1
vote
1
answer
106
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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 ...
0
votes
1
answer
403
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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 ...
3
votes
1
answer
152
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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 ...
7
votes
4
answers
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 ...
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 ...
1
vote
0
answers
127
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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 ...
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
votes
1
answer
100
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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 ...
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 ...
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 ...
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 ...
0
votes
1
answer
173
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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 ...
1
vote
2
answers
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 ...
1
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1
answer
2k
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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 ...
0
votes
1
answer
2k
views
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 ...
8
votes
2
answers
301
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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 ...
0
votes
0
answers
129
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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 ...
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 ...
26
votes
7
answers
8k
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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 ...
-4
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1
answer
145
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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 ...
0
votes
1
answer
78
views
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 ...
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?
2
votes
2
answers
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 ...
1
vote
1
answer
141
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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 ...
24
votes
3
answers
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 ...