What rate are you really paying?

«$999 or 20 payments of $55»: what does it really cost? Enter amount, number of installments and payment: get the nominal rate and the effective APR.

Amount financed

Number of installments

Monthly payment

Upfront fees (optional)

Monthly fees (optional)

How it works

The tool finds the monthly rate that makes the present value of the installments equal to the amount financed (the same math as a standard amortizing loan). The nominal rate is that rate annualized; the APR adds the extra fees (upfront and monthly) and turns them into the effective annual percentage cost.

Why the APR matters

It's the only number that lets you compare different offers. A «zero interest» plan with $50 of fixed fees is not zero at all: try entering them and watch the APR.

Note

The calculation assumes constant monthly payments in arrears. Informational tool: the contract is what counts.