Loan Calculation

[Spartacus84]

Without having the internet do it for me.....How can I work out repayments if I know an APR rate and a loan period??

[newquizzer]

Not as easy as it sounds.

You need to know what charges are included as the APR takes all costs into account.

Also as you repay some capital each month you cannot do a straight calculation. A few years ago I remember noticing a flat rate was roughly half the APR%. Use that as a very rough guiide. However this depends on the length of the loan period.

If you look at the various repayment tables in banks, newspaper adverts etc this will give you a better idea.