Cc APR Calculator

12 monthly, 26 fortnightly, 52 weekly, 252 for daily business-day remittances.
The disclosed annual percentage rate on the card.
Enter this instead of the APR to recover the APR from a statement, per 1026.14(c).
Annual percentage rate
22.9900 %
APR Calculator
Amount financed
2,500.00
Finance charge
47.24
Finance charge per $100 financed
1.8896
Unit-period rate
1.915833 %
Daily periodic rate
0.06298630 %
Interest for the billing cycle
47.24
Effective annual rate (compounded)
25.8383 %
Worked out from 12 CFR 1026.22 (Regulation Z) - Determination of the annual percentage rate and 3 other sources.
Interest is shown on the balance you enter carried for the whole cycle. A real statement uses the average daily balance and may waive interest on purchases paid in full.
A Regulation Z-style computation on the figures you enter. The APR your lender must disclose depends on which charges are finance charges under 12 CFR 1026.4 and on the exact payment schedule; only the lender disclosure is authoritative.

How this is worked out

3 steps
  1. Daily periodic rate = 22.99% / 365 = 0.0629863% per day
  2. Cycle interest = 2500 x 22.99/100 x 30/365 = 47.2397
  3. Monthly periodic rate = 22.99% / 12 = 1.915833%

Results are general information, not financial, tax, legal, medical or engineering advice.