APR Calculator
Calculate apr from your own entered figures.
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Currency: Amounts are calculated in the currency you select; this site does not convert between currencies and does not use live exchange rates.
What this tool does
Calculate apr from your own entered figures. Fees are assumed financed (added to the balance and repaid with interest). APR is solved numerically to the payment, the same construction lenders use for closed-end credit.
How to use the APR Calculator
- Enter or select loan amount.
- Enter or select fees financed into the loan.
- Enter or select stated interest rate (%).
- Enter or select term (months).
- Read the calculated result; change any measurement to compare alternatives.
Formula
payment is computed on amount + financed fees at the stated rate; APR is the rate solved by bisection that makes that same payment amortize the amount you actually receive (the loan amount without fees)
- amount
- Loan amount
- fees
- Fees financed into the loan
- rate
- Stated interest rate (%)
- termMonths
- Term (months)
Fees are assumed financed (added to the balance and repaid with interest). APR is solved numerically to the payment, the same construction lenders use for closed-end credit.
Worked example
For apr calculator, the following measurements illustrate the exact method: Loan amount: 20000; Fees financed into the loan: 500; Stated interest rate (%): 8; Term (months): 60.
Inputs
- Loan amount$20000
- Fees financed into the loan$500
- Stated interest rate (%)8 %
- Term (months)60
Result
- APR (effective rate incl. fees)9.051%
- Monthly payment$415.67
- Amount you receive$20,000.00
- Total interest + fees$4,939.96
Results explained
- APR (effective rate incl. fees)
- APR (effective rate incl. fees) from the formula above. Fees are assumed financed (added to the balance and repaid with interest). APR is solved numerically to the payment, the same construction lenders use for closed-end credit.
- Monthly payment
- Monthly payment from the formula above. Fees are assumed financed (added to the balance and repaid with interest). APR is solved numerically to the payment, the same construction lenders use for closed-end credit.
- Amount you receive
- Amount you receive from the formula above. Fees are assumed financed (added to the balance and repaid with interest). APR is solved numerically to the payment, the same construction lenders use for closed-end credit.
- Total interest + fees
- Total interest + fees from the formula above. Fees are assumed financed (added to the balance and repaid with interest). APR is solved numerically to the payment, the same construction lenders use for closed-end credit.
Frequently asked questions
payment is computed on amount + financed fees at the stated rate; APR is the rate solved by bisection that makes that same payment amortize the amount you actually receive (the loan amount without fees)
Fees are assumed financed (added to the balance and repaid with interest). APR is solved numerically to the payment, the same construction lenders use for closed-end credit.
No. All numbers are entered by you or come from the dated reference table shown on this page; calculations run locally.
This is an estimate, not financial, tax or legal advice. Verify the inputs and output with official sources and a qualified professional.
Check period consistency, currency, percentage inputs and the assumptions: Fees are assumed financed (added to the balance and repaid with interest). APR is solved numerically to the payment, the same construction lenders use for closed-end credit.