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How do you calculate an APR?

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wannabeeahack

Post subject: How do you calculate an APR?

Posted: Thu Sep 26, 2013 11:07 am

Joined: Tue Apr 29, 2008 4:06 pm
Posts: 24391
Location: Twixt Heaven and Hell, but nearest Hell

Had the chance (ha!) of borrowing £6000 over 36 monts at £292/month total repayable ....£10500

I wasnt impressed, Halifax (£6000) is £185/month over 36 months = £6689 rep[ayable

heck of a difference!

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edders23

Post subject: Re: How do you calculate an APR?

Posted: Thu Sep 26, 2013 11:10 am

Joined: Sat Apr 01, 2006 11:47 pm
Posts: 20860
Location: Stamford Britains prettiest town till SKDC ruined it

wannabeeahack wrote:

If you google it there are lots of online calculators you just put the figures in and it works it out the actual furmula is quite complicated but if you know it you can set it up on a spreadsheet but why bother when someone has already put free calculators online

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wannabeeahack

Post subject: Re: How do you calculate an APR?

Posted: Thu Sep 26, 2013 11:43 am

Joined: Tue Apr 29, 2008 4:06 pm
Posts: 24391
Location: Twixt Heaven and Hell, but nearest Hell

edders23 wrote:

wannabeeahack wrote:

41%

Halifax was 7%

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cabby john

Post subject: Re: How do you calculate an APR?

Posted: Thu Sep 26, 2013 1:06 pm

Joined: Fri Apr 21, 2006 1:20 am
Posts: 2948
Location: Over here!

Quote:

£6000 over 36 monts

If that was from a " Klingon" calendar - then it may have been cheaper :roll:

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bloodnock

Post subject: Re: How do you calculate an APR?

Posted: Thu Sep 26, 2013 2:22 pm

Joined: Thu May 03, 2007 8:15 pm
Posts: 9170

http://www.online-calculators.co.uk/interest/

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wannabeeahack

Post subject: Re: How do you calculate an APR?

Posted: Thu Sep 26, 2013 2:28 pm

Joined: Tue Apr 29, 2008 4:06 pm
Posts: 24391
Location: Twixt Heaven and Hell, but nearest Hell

cabby john wrote:

Quote:

£6000 over 36 monts

If that was from a " Klingon" calendar - then it may have been cheaper :roll:

Months, Monts or Moths, I aint paying 40% APR!

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cabby john

Post subject: Re: How do you calculate an APR?

Posted: Thu Sep 26, 2013 4:04 pm

Joined: Fri Apr 21, 2006 1:20 am
Posts: 2948
Location: Over here!

Quote:

Moths, I aint paying 40% APR!

Apparently that one is pretty cheap - never much money involved at all on that one :wink:

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wannabeeahack

Post subject: Re: How do you calculate an APR?

Posted: Thu Sep 26, 2013 6:18 pm

Joined: Tue Apr 29, 2008 4:06 pm
Posts: 24391
Location: Twixt Heaven and Hell, but nearest Hell

cabby john wrote:

Quote:

Moths, I aint paying 40% APR!

Apparently that one is pretty cheap - never much money involved at all on that one :wink:

40% is credit card territory not £6K loans

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