APR Calculator

Your details

The principal you borrow before any fees.
% / yr
months
How often you make a payment. The term above is always in months.
Fees you pay separately at closing, so they reduce the money you actually receive.
Fees added to the loan balance and paid off over time, not out of pocket today.
Each point is 1% of the loan amount, paid upfront to buy down the rate.
points
Currency
Real APRLow cost
7.78%
Payment each period$391.32
Amount financed$20,000.00
Net cash you receive$19,400.00
Total interest$3,479.38
Total fees$600.00
Total interest + fees$4,079.38
All payments + upfront fees$24,079.38

Including fees, this loan costs about 7.78% APR.

  • Your APR of 7.78% is 1.28 points higher than the 6.5% nominal rate, the difference is the cost of the fees spread across the loan.
  • Over the full term you pay 3,479 in interest and 600 in fees, 4,079 in total cost of credit.
  • A large gap between APR and the nominal rate is a sign the fees are heavy relative to the amount or term, worth negotiating or shopping elsewhere.

Next stepCompare this APR against competing offers, a lower APR almost always means a cheaper loan, even if the headline rate looks higher.

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