How do I use the advanced Apr calculator?

Paste this link in email, text or social media. The Advanced APR Calculator finds the effective annual percentage rate (APR) for a loan (fixed mortgage, car loan, etc.), allowing you to specify interest compounding and payment frequencies. Input loan amount, interest rate, number of payments and financing fees to find the APR for the loan.

How do I find the Effective Annual Percentage Rate (APR)?

This basic APR Calculator finds the effective annual percentage rate (APR) for a loan such as a mortgage, car loan, or any fixed rate loan. The APR is the stated interest rate of the loan averaged over 12 months. Input your loan amount, interest rate, loan term, and financing fees to find the APR for the loan.

What is the difference between interest rate and APR?

When evaluating the cost of a loan or a line of credit, it is important to understand the difference between the advertised interest rate and the annual percentage rate (APR), which includes any additional costs or fees. The interest rate is the cost of borrowing principal, and this rate may be stated at the time of loan closing.

What is an example of an APR?

For example, an APR for a mortgage could include the interest rate, points, origination fees and more. In the case of an auto loan, the APR is determined based on a number of factors. Those can include credit history, loan amount, down payment and the age of the car. APR can be either fixed or variable.