Web EndMemo

 Annual Percentage Rate (APR) Calculator
Loan Amount:
Loan Fees:
Interest Rate (%):
Pay Term (Month):
Closing Fees:

Monthly Payment:
Total Payment:
Total Interest Payed:
Direct-ratio APR (%):
Constant-ratio APR (%):
N-ratio APR (%):

Annual Percentage Rate (APR) is the equivalent interest rate of a loan including all loan fees and interests payed. The monthly payment is calculated using following formula:

Where:
P: Monthly payment
C: Initial loan amount
E: All loan fees
r: Interest rate (%)
N: Pay terms

The total amount payed (T) is:
T = P * N + F

The total interest payed (I) is:
I = P * N - C - E

The direct-ratio APR formula is:
a = 6M * B/(3C(N+1) + B(N+1))

The constant-ratio formula is:
a = 2M * B /(C(N+1))

The N-ratio formula is:
a = M(95N + 9) * B/(12N(N+1)(4C + B))

Where:
a: APR
M: Number of payments per year
B: Total finance charges
F: Closing Fees

APR calculation Example:
A \$300,000 loan with \$4,000 other fees and an annual interest rate 5%, the payback term is 10 years.
The monthly payment = (300000 + 4000) * 0.05 * (1 + 0.05)120 / ((1 + 0.05)120 - 1) = 3224.39
The total payment = 3224.39 * 120 = 386927
The total interest = 386927 - 300000 = 86927
The Direct-ratio APR is 5.241%.
The Constant-ratio APR is 5.747%.
The N-ratio APR is 5.307%.

Note: The most frequently used method by the lender is the actuarial method, while the formula for which is complicated due to the loan structure.
The text passage provides a detailed explanation of the Annual Percentage Rate (APR) calculation, including formulas and an example with specific values and results.
single_question_with_answer

the passage contains a single mathematical question in the form of an example calculation for apr, and the answer to this question, including the monthly payment, total payment, total interest, and different types of apr, is provided.
Given a text passage, determine:
    1. If it contains a mathematical question (including word problems or calculations)
    2. If an answer to that mathematical question is provided in the text

First, describe the content structure you found in 1-2 sentences.

Then provide your analysis in the following format:
TYPE: <one of the following values>
- NO_QUESTION
- SINGLE_QUESTION
- SINGLE_QUESTION_WITH_ANSWER
- MULTIPLE_QUESTIONS
- MULTIPLE_QUESTIONS_WITH_ANSWERS
system
Web EndMemo

 Annual Percentage Rate (APR) Calculator
Loan Amount:
Loan Fees:
Interest Rate (%):
Pay Term (Month):
Closing Fees:

Monthly Payment:
Total Payment:
Total Interest Payed:
Direct-ratio APR (%):
Constant-ratio APR (%):
N-ratio APR (%):

Annual Percentage Rate (APR) is the equivalent interest rate of a loan including all loan fees and interests payed. The monthly payment is calculated using following formula:

Where:
P: Monthly payment
C: Initial loan amount
E: All loan fees
r: Interest rate (%)
N: Pay terms

The total amount payed (T) is:
T = P * N + F

The total interest payed (I) is:
I = P * N - C - E

The direct-ratio APR formula is:
a = 6M * B/(3C(N+1) + B(N+1))

The constant-ratio formula is:
a = 2M * B /(C(N+1))

The N-ratio formula is:
a = M(95N + 9) * B/(12N(N+1)(4C + B))

Where:
a: APR
M: Number of payments per year
B: Total finance charges
F: Closing Fees

APR calculation Example:
A \$300,000 loan with \$4,000 other fees and an annual interest rate 5%, the payback term is 10 years.
The monthly payment = (300000 + 4000) * 0.05 * (1 + 0.05)120 / ((1 + 0.05)120 - 1) = 3224.39
The total payment = 3224.39 * 120 = 386927
The total interest = 386927 - 300000 = 86927
The Direct-ratio APR is 5.241%.
The Constant-ratio APR is 5.747%.
The N-ratio APR is 5.307%.

Note: The most frequently used method by the lender is the actuarial method, while the formula for which is complicated due to the loan structure.
user
The text passage provides a detailed explanation of the Annual Percentage Rate (APR) calculation, including formulas and an example with specific values and results.

TYPE: SINGLE_QUESTION_WITH_ANSWER

The passage contains a single mathematical question in the form of an example calculation for APR, and the answer to this question, including the monthly payment, total payment, total interest, and different types of APR, is provided.