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What would the actual APR be?
psychopathbabble
Posts: 5,889 Forumite
I have tried working it out but can't tell if I'm right or not...
I have an od with A&L who charge max of £5 a month on a £350 od. Just wondering what the apr would be if you assume the od is maxed out each month?
I've almost paid it off but wondering whether it would be better going to a cc or something with higher interest?
I have an od with A&L who charge max of £5 a month on a £350 od. Just wondering what the apr would be if you assume the od is maxed out each month?
I've almost paid it off but wondering whether it would be better going to a cc or something with higher interest?
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Comments
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Not taking into account compound interest
((5x12) / 350) * 100 = 17.14%Although no trees were harmed during the creation of this post, a large number of electrons were greatly inconvenienced.
There are two ways of constructing a software design: One way is to make it so simple that there are obviously no deficiencies, and the other way is to make it so complicated that there are no obvious deficiencies0 -
DarkConvict wrote: »Not taking into account compound interest
((5x12) / 350) * 100 = 17.14%
Thanks... I think thats more or less what I worked it out to be. Better off chucking the money at my 27% card then!!
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