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Advanced APR Calculator
True APR Calculator
What is APR?
Annual Percentage Rate (APR) represents the true yearly cost of borrowing. It includes the interest rate plus any additional fees or charges.
This calculator finds the effective APR when fees are included.
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Worked Examples
Example 1: Auto Loan
Loan: $25,000 | Rate: 6.5% | Term: 60 months | Fees: $450
APR: 7.28%
Example 2: Mortgage
Loan: $300,000 | Rate: 4.75% | Term: 360 months | Fees: $4,500
APR: 4.92%
Why APR Matters
- APR gives you the real cost of borrowing
- Allows fair comparison between loan offers
- Includes origination fees, points, and closing costs
- Required by law (Truth in Lending Act) for most consumer loans
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