Personal Finance and Money Stack Exchange
Personal Finance and Money Stack Exchange

Questions tagged [apr]

Annual Percentage Rate

Annual Percentage Rate - APR The annual rate that is charged for borrowing (or made by investing), expressed as a single percentage number that represents the actual yearly cost of funds over the term of a loan. This includes any fees or additional costs associated with the transaction.

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Is 0% APR ever a bad idea?

I have recently purchased a few large items of furniture for my new home and paid a ~25% deposit on these. To pay off the remainder I can pay in full or pay monthly with a 0% APR payment plan. e.g I spent £2000 on furniture and put a £500 deposit…
Jsk
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Why does my car loan interest go up despite making payments on-time?

In my first payment on 06-17-2016, the principal applied to my balance was $186.76 and the interest was $107.50. As I kept making the payment on-time, the second payment on 07-25-2016 was a bit of a shock to me as the principle went down to $93.97…
Tenzin
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Debt management: 0% CC APR for 15 months vs 7% student loan debt

About me: I make about $3330 a month from my job after taxes. I'm currently $72,500 in debt from student loans, 7% APR. I have 0 other forms of debt (I live with my parents and bought a used car for cash). I spend about $300-$400 a month on myself…
el toro
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Should I pay for a computer up-front or on finance?

This reads a bit like a home-work question, but this is actually my situation. The job I've taken is a BYOD (bring your own device), workplace and I prefer to use my own equipment. I've just started a new job and need to buy a new laptop within the…
user67312
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20% APR means only 10% interest? (UK)

I am trying to get better grasp of what the APR figure means, so this example is purely hypothetical. I have entered a loan of £100,000 into an APR calculator on MoneySuperMarket with a 20% APR for the term of exactly one year. I think quite…
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What is Cash Advance APR?

I just got my first credit card. I haven't spent anything on it but I see that the Cash Advance APR is 27.5%. Can someone tell me in layman terms what this means?
Raj
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Trying to lower my credit card APR; how to know what I should ask for?

I have a B of A Cash Rewards credit card that I want to have the APR lowered. It currently hovers at 20.49%. I've been a B of A customer since 2007, I've had the credit card since 2012. From their website, it looks like the range of rates for this…
John Doe
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Is it possible for me to keep my credit card APR at 0% permanently?

Right now I'm using the Chase Freedom card, and the terms say that it has a 0% Intro APR for 15 months from account opening on purchases. After the intro period, a variable APR of 15.74% - 24.49% is applied. The same sort of thing applies to balance…
David G
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0% intro APRs complicating payoff plans

So I'm in not-the-best™ position with about 15K in undesirable credit card debt (And another 5K in permanent no-interest deferred payment plans). I'm trying to calculate what the optimal payoff strategy is, but I'm coming up confused. Here's a…
Christ Schlacta
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Can I get a late payment on my credit card if apr is 0% for the first 21 months?

Can I get a late payment on my credit card if APR is 0% for the first 21 months? (through a Chase Slate Edge intro offer) (I've always paid on time but I am in a situation where I might need to avail this. I am not sure how late payment works when…
Raj
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How is interest calculated on PCP agreements?

in December 2018, I'll be at the end of my PCP agreement for my current car and I'm weighing up my options. I've never really paid attention to the details about my previous finance agreements - I just knew I needed a car that wouldn't break down…
Darren Taylor
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Is there a way to convert from a monthly rate to annual?

This might seem like a silly question, but I'm trying to work out how much something will cost if I pay for it on my credit card instead of paying monthly to the company at their interest rate. The problem is that my online card account only shows…
Drarok
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Does increasing loan term increase APR?

I am taking out a personal loan to consolidate debts from various sources into one payment at a lower APR. The loan company lets me choose 24, 60, 72, etc. months to repay on the application. I can't know the APR I'll get until after submitting the…
Village
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Calculating pay off for credit card with multiple APRs

I have a credit card that is charging me two different APRs, one for cash withdrawal and one for purchases. I am trying to determine how much I need to pay monthly to zero the balance, but most online calculators ask for one APR. How would I…
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What is the difference between APR, IRR, and effective rate?

I've been working on constructing an Excel spreadsheet that will calculate an APR (for loans in the US). In researching which built-in formula to use, I've seen websites refer to the "effective rate," the "internal rate of return," and the APR. …
WebUserLearner
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