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How do you calculate APR in PHP?
<?php $month = 360; //How many month you have for payment $monthlyPayment = 671.96; //Your monthly payment $moneyBorrowed = 99000; //How much you borrowed $totalPaid = $month * $monthlyPayment; //Number of months * Monthly payment $APRequ = $moneyBorrowed / $totalPaid; //Money Borrowed * Total money paid back $APRMonthly = abs($APRequ-1); //Returns the absolute value of the monthly APR $APR = $APRMonthly * 12; // Monthly APR to get Yearly APR echo $APR; ?>
How would you determine if 8 percent APR is better or worse than 5.24 percent APR?
"APR" means "Annual Percentage Rate". When money is borrowed and not paid backimmediately, that's the piece that gets added on to it each year, as the price for theconvenience of not paying it back yet.If you're the borrower and you have someone else'smoney, then you want thelowest possible APR. That's on a credit card, a car loan, a home mortgage, etc.If you're the lender and somebody else has yourmoney, then you want the highestpossible APR. That's on a bank savings account, an investment, a CD, etc.
Bartholomew just got a new credit card that offers both an introductory APR and a standard APR. If the standard APR is 19.8 which of the following rates would most likely be the introductory APR?
9.8%
Calculate the amount of interest on 2 000.00 for 4 years compounding daily at 2.25 percent APR From the Monthly Interest Table use 1.094171 in interest for each 1.00 invested?
The question cannot be answered. 1.094171 monthly is not equivalent to 2.25 APR. So the question contains inconsistent information.
What is the APR on a monthly interest of 10.24 percent?
If it is 10.24% (per month), then the APR is 222%, but if it's 10.24% compounded monthly, then APR is 10.7345%
How do you calculate apr on an adjustable rate mortgage?
APR on an ARM loan is kind of a strange question... if you wanted to calculate your APR, you could add all the variable interest rates you were charged over the course of a year, then divide that number by 12. Technically, that would be your APR.
How do you calculate the APR for a loan or credit card?
To calculate the APR for a loan or credit card, you need to consider the interest rate and any additional fees associated with the borrowing. The APR takes into account these costs and gives you a more accurate picture of the total cost of borrowing over a year. You can calculate the APR using a formula that factors in the interest rate and fees.
How do you calculate an APR?
To calculate an APR (Annual Percentage Rate), you need to consider the interest rate and any additional fees associated with a loan or credit card. The APR takes into account these costs and expresses them as a yearly percentage of the total amount borrowed.
How do you calculate the APR on an investment?
To calculate the APR on an investment, you need to consider the interest rate and any fees associated with the investment over a year. The APR takes into account both the interest rate and fees to give you a comprehensive view of the investment's annual cost.
How to calculate the annual percentage rate (APR) from a given monthly payment amount?
To calculate the annual percentage rate (APR) from a given monthly payment amount, you would need to know the loan amount, the term of the loan, and any additional fees or charges. Using these values, you can use a formula to solve for the APR.
What is the APR rate in the US?
The APR someone will pay will depend on a variety of both personal and geographical factors. The average APR on home loans is around 3%, however the APR will also depend on the type of loan you are getting.
How can I calculate credit card interest based on the APR?
To calculate credit card interest based on the APR, multiply the average daily balance by the APR divided by 365 (number of days in a year). This will give you the daily interest charge. Multiply this by the number of days in the billing cycle to find the total interest charged for that period.
How do you calculate APR?
You calculate APR based on your credit score, loan size and term of loan. Typically the shorter the loan life the lower APR you will get . Annual Percentage Rate APR (Annual Percentage Rate) is a standardized term used to compare loans, mortgage loans and credit card rates. It is a compilation of the compound interest, finance charges and lender fees calculated annually. For more detailed information and to use an APR calculator visit the link in related links.
How do you calculate the APR interest on a loan or credit card?
To calculate the APR interest on a loan or credit card, you need to consider the annual interest rate and any additional fees or charges associated with the loan. The APR is calculated by taking into account the total cost of borrowing over a year, including interest and fees, and expressing it as a percentage of the loan amount.
What can someone get a credit card with 0 APR?
Someone is able to get a credit card with 0% APR if they are switching their main account from one bank to another. These sorts of accounts are often offered to encourage new customers.
How do you calculate APR in PHP?
<?php $month = 360; //How many month you have for payment $monthlyPayment = 671.96; //Your monthly payment $moneyBorrowed = 99000; //How much you borrowed $totalPaid = $month * $monthlyPayment; //Number of months * Monthly payment $APRequ = $moneyBorrowed / $totalPaid; //Money Borrowed * Total money paid back $APRMonthly = abs($APRequ-1); //Returns the absolute value of the monthly APR $APR = $APRMonthly * 12; // Monthly APR to get Yearly APR echo $APR; ?>
How can I calculate the monthly payment with APR?
To calculate the monthly payment with APR, you can use the formula for loan payments: Monthly Payment P r(1r)n / (1r)n - 1 Where: P Principal loan amount r Monthly interest rate (APR divided by 12) n Number of monthly payments Plug in these values into the formula to find the monthly payment amount.
