Calculator
APR Calculator
This APR calculator finds the true annual cost of credit when a loan carries an upfront fee. It reports the monthly payment, the net amount you receive, the stated rate, the APR including the fee, and the extra cost of the fee in percentage points.
Advertising disclosure: Paydayloaning may receive a referral fee if you apply through the link above. That fee does not change the rate you are offered, and it does not change our content. We are not a lender. The lowest rates are only available to the most qualified applicants. Read the full disclosure.
Enter your numbers and press Calculate. Nothing you type leaves your browser.
How this calculator works
The APR is the yearly cost of credit once upfront fees are included, and it is usually higher than the advertised rate. The fee reduces the money you actually receive while the payments stay based on the full amount, so the real cost of the money you got is higher.
The calculator finds the monthly rate that makes the present value of the payments equal the net amount you received, then annualises it. It also shows the extra cost of the fee in percentage points, which is simply the APR minus the stated rate. If the fee is zero, the APR equals the stated rate.
Enter the upfront fees from your own offer, such as an origination fee. Under the federal Truth in Lending Act the lender must disclose the finance charge and the APR in writing before you sign, so compare that disclosure with this result.
Advertising disclosure: Paydayloaning may receive a referral fee if you apply through the link above. That fee does not change the rate you are offered, and it does not change our content. We are not a lender. The lowest rates are only available to the most qualified applicants. Read the full disclosure.