Egg Card Green APR!

southernscouser

Can someone tell me what the APR is for this card! I'm sure it is 12.9% but would like a confirmation from someone in the know!

Also does anyone know of a site/calculator that works out an APR by just typing in the monthly rate?

Thanks very much!

SS

Gerradene

My APR on my egg card is 15.9%

which i was suprised at, called them up to see if i could get it any lower - NO

don't know about sites for calculating interest, sorry.

[Deleted User]

southernscouser wrote:

Also does anyone know of a site/calculator that works out an APR by just typing in the monthly rate?

Thanks very much!

SS

Assuming there is no annual fee, take the monthly rate, divide by 100, add 1, to the power 12, subtract 1 and multiply by 100.

It's easier than it sounds eg for 1.2% per month

1.012^12-1 = 0.154 ie 15.4% APR

southernscouser

anactuary wrote:

Assuming there is no annual fee, take the monthly rate, divide by 100, add 1, to the power 12, subtract 1 and multiply by 100.

It's easier than it sounds eg for 1.2% per month

1.012^12-1 = 0.154 ie 15.4% APR

:eek: :rotfl:

How do you type the power of twelve bit into a calculator?

Rafter

Try typing the 1.012 bit, then the multiply sign twice, then press the equals sign 11 times.

You should then have 1.1538941 in the window

subtract 1

0.1538941

multiply by 100

= 15.38941 %


Good luck.

R.

micheleen

You can't with a basic calculator, or even windows calculator. You need a scientific calculator. There's an online one here