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Loan and APR

What a loan costs each month — and the true yearly rate behind a payment.

Example values — change any of them.

$
months
%
An example rate — use the one on your offer.
$
We work out the true APR behind it.
Each month
$278.31
Repaid in all
$13,359
Interest
$3,359

The payment you were offered means a true APR of 19.2%.

What you borrowedInterest on top (25% of what you repay)

The APR is the yearly cost of borrowing. Each month interest is charged on what you still owe, so the same rate costs more the longer you take to repay.

Offered a monthly payment instead of a rate? The payment, the amount and the months are enough to work out the true APR — the question the Dial Rate game asks.

Education, not financial advice.

Feel it in a game

Dial Rate turns this into a few quick rounds — in the app, and soon in your browser.

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