APR calculator
Calculator
The calculator needs JavaScript. The tables below give the same numbers for common cases.
How it is worked out
- Find the monthly rate i that makes the payments worth the money you actually received: $9,800.00 = payment × (1 − (1 + i)^−n) ÷ i.
- Solved numerically: i = 0.00689566 per month; APR = 12 × i = 8.2748%.
| Inputs | Answer |
|---|---|
| Amount borrowed: 10000; Upfront fees: 200; Monthly payment: 200; Number of monthly payments: 60 | Borrowing $10,000.00 with $200.00 fees and 60 payments of $200.00 gives an APR of about 8.2748%. |
| Amount borrowed: 5000; Upfront fees: 0; Monthly payment: 100; Number of monthly payments: 60 | Borrowing $5,000.00 with $0.00 fees and 60 payments of $100.00 gives an APR of about 7.4201%. |
| Amount borrowed: 20000; Upfront fees: 500; Monthly payment: 420; Number of monthly payments: 60 | Borrowing $20,000.00 with $500.00 fees and 60 payments of $420.00 gives an APR of about 10.5899%. |
How to use it
The APR spreads upfront fees over the loan, so it is higher than the stated interest rate when there are fees. The calculator finds the monthly rate at which your payments repay the money you actually received (amount minus fees) and multiplies it by 12.
Borrowing $10,000 with $200 of fees and 60 payments of $200 has an APR of about 8.27%, because you receive $9,800 but repay $12,000. Official APR definitions can differ slightly by country and product. These are estimates from the numbers you type, not financial advice or an offer; real products add fees and change rates.
Frequently asked questions
What is APR?
The yearly cost of borrowing, including certain fees, expressed as a rate.
Why is APR higher than the interest rate?
Because fees are paid upfront and are counted in the cost.
How is APR calculated here?
By solving numerically for the monthly rate that equates the payments to the money received.
Method: standard arithmetic shown step by step; no outside data is used. Checked 2026-11-12.
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General information only. Results are plain arithmetic on the numbers you enter; check anything important (money, health, school work) against your own records or the official source.