Calculateur de Loan APR Comparison
Calculate the effective APR of a loan including a flat origination fee.
Formula and method
This calculator computes Effective principal received, Effective APR directly in your browser without sending data to an external server.
Mathematical formula
- Effective principal received:
fee>=principal ? NaN : principal-fee - Effective APR:
(() => { if(fee>=principal) return NaN; const rNom = nominalRate ÷ 1200; const n = years × 12; const pmt = rNom === 0 ? principal ÷ n : principal × rNom ÷ (1-1+rNom^(-n)); const netProceeds = principal - fee; const pv = (r) => r === 0 ? pmt × n : pmt × (1-1+r^(-n)) ÷ r; let lo = 0, hi = 5; for (let i = 0; i < 60; i++) { const mid = (lo+hi) ÷ 2; if (pv(mid) > netProceeds) lo = mid; else hi = mid; } return ((lo+hi) ÷ 2) × 1200; })()
Variables and parameters
- Loan amount (principal): default value 10000.
- Origination fee (fee): default value 200.
- Nominal annual rate (nominalRate): default value 8 %.
- Term (years): default value 3 years.
Some formulas are undefined for certain input combinations (such as division by zero or logarithms of non-positive numbers). In those cases the live tool displays an alert instead of NaN.
Embed this tool
Paste this snippet into your own site or blog post to embed a live, working copy of this tool. It links back to the full page on SpecWhale.
Frequently asked questions
What equation and variables does Loan APR Comparison Calculator use?
Loan APR Comparison Calculator evaluates outputs such as <strong>Effective principal received, Effective APR</strong> based on inputs including Loan amount, Origination fee, Nominal annual rate, Term. Check the Mathematical Method section for the explicit formula.
How can I compare different financial scenarios using Loan APR Comparison Calculator?
You can click the "Add to Compare" button after computing your scenario to pin it to your temporary side-by-side Compare Workbench, allowing you to evaluate loan, rate, or interest differences.
What happens if I enter invalid or zero values into Loan APR Comparison Calculator?
If an input combination is mathematically undefined (such as division by zero or negative square roots), SpecWhale alerts you gracefully rather than returning invalid NaN outputs.
Are my calculations in Loan APR Comparison Calculator saved or private?
All calculations are 100% private and run locally in your Web browser. Your numbers are never uploaded to any server, but can be saved locally to your device or exported as CSV/JSON.
Is Loan APR Comparison Calculator free to use?
Yes. Loan APR Comparison Calculator is completely free, has no usage limit, and does not require an account, email, or API key.
Does Loan APR Comparison Calculator store or upload my data?
No. Loan APR Comparison Calculator calculates everything locally in your browser. Nothing you type is sent to a server or stored by SpecWhale.
How accurate is Loan APR Comparison Calculator?
Loan APR Comparison Calculator uses a standard formula (see the Method section above for the exact expression). For high-stakes financial, medical, or legal decisions, confirm the result with a professional or an authoritative source before relying on it.
Can I embed Loan APR Comparison Calculator on my own website?
Yes. Use the "Embed this tool" snippet on this page to add a free, working copy of Loan APR Comparison Calculator to your own blog post or page.