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Flat and APR interestCalculate

Flat and APR interestCalculate
  • #: 169570
  • Price: free ($0.00) In Apple Store
  • Category: Finance
  • Updated: 2010-08-12
  • Current Version: 1.0
  • 1.0
  • Size: 0.60 MB
  • Language: English
  • Seller: PicsAlive Pte Ltd
  • Requirements: Compatible with iPhone, iPod touch, and iPad. Requires iOS 3.0 or later
  • © 2010 Picsalive Pte Ltd
  •  Add to Favorite apps

 

Description

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).

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The information may be outdated (2011-04-21 09:32:32). For actual information go to iTunes

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