AppShopper

Flat and APR interestCalculate

       iOS iPhone

Some loans are quoted at an incredibly low flat interest rate. This app helps you estimate the actual cost of loans by comparing flat interest rates to their equivalent Annual Percentage Rates (APR) and vice versa. The period of monthly payments and sales fees (or commissions) are factored into the APR computations.

The Effective APR (EAR) which takes into account the compound interest rate calculated across a year is also calculated. EAR can be used to compare the annual interest between loans with different compound terms (e.g. daily, monthly, annually).

What's new

iOS 5 Compatibility

Screenshots

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Last changed:

Nov 22, 2011

Category:

Finance

Developer:

PicsAlive

Version:

1.1

Average Rating:

1.00 (7)

Size:

1.0 MB

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