Mca Calculator
Annual percentage rate
71.8906 %
APR Calculator
Amount financed
50,000.00
Finance charge
20,000.00
Finance charge per $100 financed
40.0000
Total of payments
70,000.00
Payment per period
280.00
Unit-period rate
0.285280 %
Daily periodic rate
0.19696058 %
Effective annual rate (compounded)
105.0088 %
Worked out from 12 CFR 1026.22 (Regulation Z) - Determination of the annual percentage rate and 3 other sources.
A factor rate is not a rate: the APR depends entirely on how fast the advance is repaid, and a shorter remittance period on the same factor means a higher APR.
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
7 steps
- Total repayment = 50000 x 1.4 = 70000
- Each of 250 remittances = 70000 / 250 = 280
- Amount financed = 50000 - 0 = 50000 (12 CFR 1026.18(b))
- Finance charge = 250 x 280 - 50000 = 20000
- Unit-period rate solving 50000 = payment x annuity factor is 0.28528% per period
- APR = 0.28528% x 252 periods = 71.8906%
- Finance charge per $100 financed = 100 x 20000 / 50000 = 40
Payment scheduletable
| period | payment |
|---|---|
| 1 | 280 |
| 2 | 280 |
| 3 | 280 |
| 4 | 280 |
| 5 | 280 |
| 6 | 280 |
| 7 | 280 |
| 8 | 280 |
| 9 | 280 |
| 10 | 280 |
| 11 | 280 |
| 12 | 280 |
| 13 | 280 |
| 14 | 280 |
| 15 | 280 |
| 16 | 280 |
| 17 | 280 |
| 18 | 280 |
| 19 | 280 |
| 20 | 280 |
| 21 | 280 |
| 22 | 280 |
| 23 | 280 |
| 24 | 280 |
| 25 | 280 |
| 26 | 280 |
| 27 | 280 |
| 28 | 280 |
| 29 | 280 |
| 30 | 280 |
| 31 | 280 |
| 32 | 280 |
| 33 | 280 |
| 34 | 280 |
| 35 | 280 |
| 36 | 280 |
| 37 | 280 |
| 38 | 280 |
| 39 | 280 |
| 40 | 280 |
| 41 | 280 |
| 42 | 280 |
| 43 | 280 |
| 44 | 280 |
| 45 | 280 |
| 46 | 280 |
| 47 | 280 |
| 48 | 280 |
| 49 | 280 |
| 50 | 280 |
| 51 | 280 |
| 52 | 280 |
| 53 | 280 |
| 54 | 280 |
| 55 | 280 |
| 56 | 280 |
| 57 | 280 |
| 58 | 280 |
| 59 | 280 |
| 60 | 280 |
| 61 | 280 |
| 62 | 280 |
| 63 | 280 |
| 64 | 280 |
| 65 | 280 |
| 66 | 280 |
| 67 | 280 |
| 68 | 280 |
| 69 | 280 |
| 70 | 280 |
| 71 | 280 |
| 72 | 280 |
| 73 | 280 |
| 74 | 280 |
| 75 | 280 |
| 76 | 280 |
| 77 | 280 |
| 78 | 280 |
| 79 | 280 |
| 80 | 280 |
| 81 | 280 |
| 82 | 280 |
| 83 | 280 |
| 84 | 280 |
| 85 | 280 |
| 86 | 280 |
| 87 | 280 |
| 88 | 280 |
| 89 | 280 |
| 90 | 280 |
| 91 | 280 |
| 92 | 280 |
| 93 | 280 |
| 94 | 280 |
| 95 | 280 |
| 96 | 280 |
| 97 | 280 |
| 98 | 280 |
| 99 | 280 |
| 100 | 280 |
| 101 | 280 |
| 102 | 280 |
| 103 | 280 |
| 104 | 280 |
| 105 | 280 |
| 106 | 280 |
| 107 | 280 |
| 108 | 280 |
| 109 | 280 |
| 110 | 280 |
| 111 | 280 |
| 112 | 280 |
| 113 | 280 |
| 114 | 280 |
| 115 | 280 |
| 116 | 280 |
| 117 | 280 |
| 118 | 280 |
| 119 | 280 |
| 120 | 280 |
First 120 of 250 rows.
Results are general information, not financial, tax, legal, medical or engineering advice.