APR Calculator

This tool finds the annual percentage rate of a loan, the rate that makes the payments you actually make equal the money you actually receive once fees come out. Give it the loan amount, the nominal rate, the term and the up front fees, or give it the cash received and the monthly payment. No formula solves for that rate directly, so the tool narrows it by bisection until the monthly rate stops moving, well inside a millionth of a percentage point, and reports the yearly figure to three decimals. With no fees at all the APR comes back equal to the nominal rate, which is what makes the two comparable. Lenders count fees and round by their own rules, so this is an estimate rather than a lender quote.