APR Calculator

This tool computes the monthly payment and total interest for a fixed-rate installment loan from a principal, a nominal annual interest rate, and a term in months. It is intended for quick loan-payment estimates: it does NOT calculate a true regulatory APR that folds in fees, points, or compounding differences — the displayed 'APR' simply echoes the nominal rate you entered.

1. Enter Loan Amount (principal, e.g. 10000). 2. Enter Nominal Rate as an annual percentage (e.g. 5.5). 3. Enter Loan Term in months (default 12). 4. Click Calculate. The result card shows the APR field (equal to the nominal rate), the Monthly payment, and Total interest. Inputs that are zero, negative, or missing produce no result.

Monthly rate r = nominalRate / 100 / 12, periods n = months. Monthly payment M = P × (r × (1+r)^n) / ((1+r)^n − 1). Total payment = M × n; total interest = total payment − principal. The APR field is set directly from parseFloat(nominalRate), so it equals the nominal rate and will not reflect origination fees, closing costs, or compounding. For a real APR (US Truth in Lending), use a dedicated APR calculator that includes fees.