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Questions tagged [apr]

Annual Percentage Rate

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Algorithm to calculate the Interest on Loan with a Balloon Payment

I am trying to understand the algorithm used by My - Balloon Payment Calculator If I enter the following details: Loan amount: 4556.75 Number of months: 5 Interest rate: 5.75% ...
matt90410's user avatar
  • 111
2 votes
1 answer

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 ...
Tim's user avatar
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2 votes
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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 ...
Soble's user avatar
  • 31
8 votes
2 answers

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 ...
Christ Schlacta's user avatar
4 votes
2 answers

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 ...
Slavatron's user avatar
  • 191
2 votes
2 answers

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%?
user22347's user avatar
1 vote
2 answers

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 ...
Samuel Saari's user avatar