Use this APR calculator to calculate the annual percentage interest you need to pay on your loans. Calculate how much extra you have to pay due to extra cost of loan.

Interactive APR (Annual Percentage Rate) Calculator

The APR is the actual yearly interest rate paid by a borrower, figuring in the points charged to initiate the loan and other costs.

Calculate actual interest rate you are paying due to additional cost of loan
Principal * ($)
Amount of money borrowed
Additional Cost ($)
Processing fee, bond fee etc
Interest Rate * (%)
Percentage of interest paid annually on principal
No of Months *
No. of months over which you will repay this loan

Here is a short example of how to calculate the APR and see how it differs from normal interest rates:
Loan Amount (P) = $100
Additional Cost (E) = $5
Interest Rate (I) = 12%
Monthly Interest Rate (r) = R/100*12=0.01
Number of month (n) = 1

Now, applying Newton-Raphson Method, we get an APR (A) =0.0605*1200=72.60%

From the above calculation, we see that for a loan amount of $100 with 12% interest, the APR can be as high as 72.60%, depending upon the extra costs and the time taken for repayment.