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APR reflects the true yearly cost of a loan including upfront fees. We find the rate that equates your monthly payment to the amount you actually receive (loan minus fees).
Frequently Asked Questions
How is APR different from the interest rate?
The nominal interest rate ignores fees; the APR (annual percentage rate) folds upfront charges into a single yearly cost figure, so it is usually a little higher and lets you compare loans fairly.
Calculate the annual percentage rate (APR) of a loan including upfront fees.