Reviewed by: David Chen, CFA
David Chen is a Certified Financial Analyst with over 10 years of experience in financial planning and risk management.
David Chen is a Certified Financial Analyst with over 10 years of experience in financial planning and risk management.
Use the loan APR calculator to estimate your loan’s APR by entering relevant values.
Loan APR Calculator
Loan APR Calculator Formula
APR = (Q × V – F) / F × 100
Formula Source: Investopedia
Variables
- F: Loan Amount
- P: Interest Rate
- V: Loan Term
- Q: Monthly Payment
Related Calculators
What is Loan APR?
Loan APR is the annual percentage rate charged for taking out a loan, which includes both the interest rate and additional fees or charges associated with the loan.
How to Calculate Loan APR (Example)
- Step 1: Enter the loan amount, interest rate, loan term, and monthly payment.
- Step 2: Click “Calculate” to find the APR.
Frequently Asked Questions (FAQ)
What is a good loan APR? A good loan APR depends on various factors, including your credit score and the type of loan. Lower APRs are generally better.
Can I refinance my loan to get a better APR? Yes, refinancing is one way to secure a lower APR on your loan if your financial situation has improved.