# Questions tagged [apr]

Annual Percentage Rate

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### What does APR mean I'm paying?

I've read every article and post on the internet and I'm still confused. I'm getting a credit card with a 19.9% APR with no annual or monthly fees. I read that APR is the annual rate for borrowing. ...
• 21
370 views

### Consolidate my debt? Higher APR, but what does that actually mean?

If I have a monthly payment of \$804.54 and an APR of 29.8%, does that mean that, each month, 29.8% of my \$804.54 goes to paying the creditor? My situation... I have 3 credit cards and am thinking ...
• 21
100 views

### Lowest Interest Options for Short-Term Loan

I am looking for a short-term loan in the amount of \$15k to buy some household items. I will be able to return the money in full by 3 months I have a credit score of 760+. Currently, I am seeing ...
186 views

### Effective Interest Rate from bifurcated interest rate

Here goes, this is the scope of my question: Say I want to take out a credit card, that has 0% interest for 12 months, when at the 13th month, whatever debt is taken out on the card will be subjected ...
• 31
2k views

### Calculating pay off for credit card with multiple APRs

I have a credit card that is charging me two different APRs, one for cash withdrawal and one for purchases. I am trying to determine how much I need to pay monthly to zero the balance, but most online ...
• 630
401 views

### Soft Loan using a 0% APR credit Card

I am getting a new Student Credit Card . It has as 0% Intro APR for 18 months. The credit card company is ready to loan me money, which I can repay in 18 months at 0% APR. With this loan money I ...
• 103
1 vote
6k views

### How to calculate Annual Percentage Rate of a loan with unequal periodic payments?

Let's say we borrow a loan of \$1000. We pay back to bank \$100 per month but for some stupid reason the last payment is smaller and equals \$50. This is a common case in my country. How then the APR ...
221 views

### Formal Definition of APR

I have seen several conflicting sources on the internet about APR. Some say the effective rate is (1+APR/n)^n -1 while others say this formula is the APR since APR represents the rate over all ...
66 views

### APR for a Loan Paid Off in Monthly Payments for 9 Months [duplicate]

Say a loan is issued for 9 months with \$1000 principal and with a payment plan consisting of about \$162.23 each month. Does this loan have an APR of 46%?
1k views

### Does APR also depends on credit score?

I know that a good credit score means access to higher credit limits, but how the APR is affected? While I always pay off the whole balance on my credit card, but I am interested in lower APR, because ...
284 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%?
101 views

### Calculating cost of loan

|fee |interest(5% of 200) |total paying |% of original loan |200 |6 |10 |10+6 |8 (16/200*100) |effective loan |% of ...
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1 vote
283 views

### APR without principal repayment?

I've been trying to find out about this own my own but can't seem to work it out via search engines, loan/mortgage websites and excel. When I try to work out how much a loan costs, rates like APR ...
• 21
4k views

### How much higher should my APR be than my rate?

First time home buyer looking at mortgages and having a hard time understanding the difference between good and bad on rates. On a loan estimate I have been quoted 4.75% rate(seems high?) and 5.795% ...
• 275
1 vote
487 views

### Having trouble with APR calculation

I am using the formula listed on the following site to try to calculate APR: http://www.fdic.gov/regulations/laws/rules/6500-1950.html#fdic6500appendixjtopart226 go to appendix J, if it doesn't auto ...
• 113
1 vote
634 views

### Calculate APR for under 1 year loan

I was talking with a friend about Payday loans (neither of us is getting one, just merely curious) and the APRs they state aren't really true. So, I was trying to figure out an APR based on the ...
• 123
823 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 ...
• 5,883
650 views

### Using the Rule of 72 to compute residual income?

Often I check an investment strategy's performance by summing the year-to-date realized gains/losses. I take the sum of all closing(or market for unrealized) values CT, subtract the sum of all cost ...
• 255
791 views

### Calculating Future and Present value into mortgage comparisons

I'm looking to buy a home in the next 3 or 4 months. The bank I'm working with has 10 different mortgage rates, currently ranging from 3.5% to 4.625%, with points respectively ranging from 2.875 to -1....
• 473
283 views

### How to arrive at the fee-adjusted APR (accounting for balance transfer fee, but not inflation)?

I'm trying to figure out the fee-adjusted interest rate paid when incurring a balance transfer fee on a loan, not accounting for inflation. If the APR is 4%, the loan 5000, the transfer 2% and you ...
• 123
16k views

### Is there a way to convert from a monthly rate to annual?

This might seem like a silly question, but I'm trying to work out how much something will cost if I pay for it on my credit card instead of paying monthly to the company at their interest rate. The ...
• 203
1 vote
1k views

### Why does APR sometimes show as lower than the stated mortgage rate?

I see an offer for a 15 year fixed jumbo at 4.5% with a 4.622% APR while on the some advertisement it shows a 5/1 ARM jumbo at 3.875% with a 3.283% APR. Why is one APR higher and the other lower?
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299 views

### How often to call Credit Card Customer Service for Rate Reduction

I've seen 6 months mentioned a lot, but in some of the information I've consumed I've heard that some people call their customer service as often as each month. I'm pretty sure they make notes on how ...
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