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APR Calculator (Interest Rate + Fees)

Loan amount

Interest rate (%)

Term (months)

Upfront fees ($)

Formula

Payment is based on the full loan amount
APR = the rate at which payments discount back to (loan − fees), solved numerically × 12

FAQ

What is the difference between APR and interest rate?

The interest rate prices the money borrowed; APR also spreads mandatory fees (origination, points) over the term, so it shows the real yearly cost.

Why is APR higher on short loans with the same fee?

A fixed fee is spread over fewer months, so it adds more per year.

Is a lower APR always better?

Usually, for the same term. But compare total cost too — a longer loan can have a lower APR and still cost more interest overall.

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