how to calculate the APR
how to calculate the APR
if I take out a $8000.00 loan that call for 48 months repayment of $240.00. What is the APR??
3 Answers
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1
You can use the calculator: http://www.mortgagefit.com/calculators/apr.html in order to calculate your APR.
1
Instead of asking this in the forum, you can use an APR calculator for better results. A calculator will give you accurate answers.
1
APRs vary depending upon the individual lender. It is practically impossible to give you an extact figure for the above mentioned loan. A calculator will only give you a rough estimate and not an accurate rate. So, it is best to contact your lender and find out the applicable APR from him/her.