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APR Workout

westie666
westie666 Posts: 327 Forumite
in Loans
Looking to get a CC with life of balance transfer.

Can anyone help me find out what the apr is on this loan I have

Total inc intrest = 14255.58
Total without int = 10500.00

Trying to see if I would be better off.

W666

If you don't ask, you don't find out!

Comments

  • grumbler
    grumbler Posts: 58,629 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Isn't it obvious for you that the data you posted are not sufficient to answer to your question? :confused:
    If the loan is for 1 year, 14255.58/10500.00=1.358 and APR is 35.8%
    If it is for 10 years, then APR is 3.1% :D

    EDIT 1: my figures are incorrect. I'll post correct ones a little bit later ...

    EDIT 2: correct figures are about 61% and 6.4%
  • westie666
    westie666 Posts: 327 Forumite
    sorry its 5 years (or 59 months - A&L got it wrong on the first month and sent docs to confirm 59 months)

    W666

    If you don't ask, you don't find out!
  • grumbler
    grumbler Posts: 58,629 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    It is about 13%. See http://www.whatsthecost.com/loan.aspx
This discussion has been closed.
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