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can anyone help me work out an APR?
themarsbargirl
Posts: 600 Forumite
Hi, hoping someone can help me, For 2014 i am going to be charged interest on my site fees if i pay over 12 months rather than a lump sum and i wanted to work out the apr to see how it compares to, say, a credit card.
The amount owing is 3100 and the interest will be 372. can anyone tell me the apr or how to calculate it please?
The amount owing is 3100 and the interest will be 372. can anyone tell me the apr or how to calculate it please?
Credit card respend 2551.58 (15/02/17)
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Comments
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What are you monthly payments?0
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315.64 that is worked out over 11 months not 12 months.Credit card respend 2551.58 (15/02/17)0
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Assuming there is no starter/admin charge, and no final charge, then the APR will be 25.9%.
Have you considered getting a loan, and paying it in full?0 -
whew! i knew it was a lot but sheesh that is high! my credit history would probably prevent me from getting a loan but now i've seen that as an apr i will def be talking to my dad to see if he will pay upfront and i'll pay him back monthly at 4% interest.
Thank you very much for your help Bob. xCredit card respend 2551.58 (15/02/17)0 -
You're very welcome.
With a username like yours, I guess you must be sweet.
I'll get my coat.
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why now bob are you flirting with me? i thought you kept those shenanigans for the SHTF thread...Credit card respend 2551.58 (15/02/17)0
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