Basic APR Calculator

  • Enter your loan details: Loan Amount, Annual Interest Rate, Loan Term, and Payment Frequency.
  • Click "Calculate APR" to calculate your Monthly Payment, Total Payment, and APR.
  • View the loan balance chart below to visualize the loan balance over time.
  • Click "Clear Results" to reset the form and chart.
  • Click "Copy Results" to copy the calculated results to the clipboard.

Monthly Payment:

Total Payment:

APR (Annual Percentage Rate):

Loan Balance Over Time
Calculation History


    Annual percentage rate (APR) is the cost of borrowing money over a period of time, expressed as a percentage. It includes the interest rate plus any additional fees or charges associated with the loan.


    The following formula is used to calculate APR:

    APR = (Interest + Fees) / Principal * (1 / Time) * 100


    • APR is the annual percentage rate
    • Interest is the total interest paid on the loan
    • Fees are any additional fees or charges associated with the loan
    • Principal is the amount of money borrowed
    • Time is the length of the loan in years


    There are a number of benefits to using a basic APR calculator:

    • Helps you compare loans: An APR calculator can help you compare loans from different lenders. This can help you find the best loan for your needs and budget.
    • Helps you understand the true cost of a loan: An APR calculator can help you understand the true cost of a loan, including the interest rate and any additional fees or charges. This can help you make an informed decision about whether or not to take out a loan.
    • Helps you save money: An APR calculator can help you save money by helping you find the loan with the lowest APR.

    Interesting facts

    • APR is required to be disclosed by lenders on all consumer loans.
    • APR is calculated using a standardized formula, so it is easy to compare APRs from different lenders.
    • APR can vary depending on a number of factors, such as the type of loan, the borrower’s credit score, and the amount of money being borrowed.

    Scholarly references

    • The Truth in Lending Act: A Comprehensive Guide to Consumer Credit Laws by Michael B. Lacroix and Joseph G. Winer (2016)
    • Consumer Finance: An Introduction by Philip L. Swan and James G. Ang (2018)
    • Personal Finance: The Complete Guide by William G. Nickels, Susan J. Nickels, Bruce R. Miller, and Stephen J. Arnold (2020)


    The following table shows some examples of APR calculations:

    Loan typePrincipalInterestFeesTime (years)APR
    Personal loan$10,000$1,000$200512.4%
    Auto loan$20,000$2,000$300310.3%


    Basic APR calculators can be used by anyone who is considering taking out a loan. This includes students, borrowers, and small businesses.


    Basic APR calculators are a valuable tool that can help you compare loans, understand the true cost of a loan, and save money. If you are considering taking out a loan, be sure to use a basic APR calculator to help you make an informed decision.

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    Hi! I'm Nidhi.

    Here at the EHL, it's all about delicious, easy recipes for casual entertaining. So come and join me at the beach, relax and enjoy the food.

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