Formula and method
This calculator uses the values you enter and applies the calculation immediately in your browser. The main output formulas are:
- 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-Math.pow(1+rNom,-n)); const netProceeds = principal - fee; const pv = (r) => r === 0 ? pmt*n : pmt*(1-Math.pow(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; })()
Some formulas are undefined for certain input combinations, such as division by zero, equal x-values in a slope calculation, or logarithms of non-positive numbers. In those cases the live tool reports that the result is undefined instead of displaying Infinity or NaN.
Examples
- Example: with Loan amount = 10000, Origination fee = 200, Nominal annual rate = 8 %, Term = 3 years, this calculator returns Effective principal received = 9800, Effective APR = 9.378 %.
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- Try related finance tools when your next step needs another conversion or calculation.
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Frequently asked questions
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.
SEO and sharing notes
This page has a single clean canonical URL, descriptive metadata, breadcrumb structured data, and internal links to related tools. Supported calculators and converters can also copy a prefilled share link without changing the canonical index URL.