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Annual Percentage Rate (APR) Calculator for an Installment Loan
This calculator uses the N-ratio method to compute the annual percentage rate (APR) for an installment loan, given the amount of the loan, the total number of payment periods, the number of payments per year, and the total finance charges for the loan.- The APR considers all of the finance charges associated with a loan, and is therefore a measure of the true cost of borrowing money.