Questions tagged [apr]

Annual Percentage Rate

Filter by
Sorted by
Tagged with
2
votes
3answers
521 views

0 Percent Intro APR, is it a misnomer?

(Read the normal print for an amusing story, skip to the bolded text for more important info) To begin, I'm a scallywag. I saw that card offer in the mail and did some digging because I'm not used ...
0
votes
1answer
724 views

Algorithm to calculate the Interest on Loan with a Balloon Payment

I am trying to understand the algorithm used by My Calculators.com - Balloon Payment Calculator If I enter the following details: Loan amount: 4556.75 Number of months: 5 Interest rate: 5.75% ...
4
votes
2answers
230 views

Signing up for a credit card to pay tax debt - pitfalls of 0% APR for the first year?

I have a tax debt of ~$3000 and am trying to find the best method of paying it. I applied for a credit card that offers 0% APR for the first 12 months. As far as I can tell, this is a much better ...
2
votes
2answers
260 views

APR for a Loan Paid Off Monthly

A loan is issued for 12 months for 1000 and is paid back with monthly payments of $140 each month. Does this loan have an APR of 68%?
1
vote
1answer
728 views

How to understand the calculation of interest for credit cards?

From Wikipedia The general calculation formula most financial institutions use to determine the amount of interest to be charged is APR/100 x ADB/365 x number of days revolved. Take the annual ...