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Enter the required loan & annual interest rates in the tables below. Enter initial fees that are added to the loan. Also enter any initial
costs, which are NOT added to the loan, including valuation & administration fees but less any immediate cashback, against year 0. Any
compulsory monthly costs such as PP (Payment Protection) insurance is entered in the monthly fees column.
The APR is the internal rate of return of the resultant cashflows taken to the term end. Calculate the APR by clicking on the
"Calculate APR" button or pressing Control i. If an erroneous result occurs, change J33 (highlighted yellow) to a better guess.
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3.000
125.00
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,
5.000
208.33
5.000
208.33
3
7.500
312.50
4
*
7.500
312.50
7.500
312.50
>
2
7.500
312.50
7.500
312.50
=
8.000
333.33
5
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8.000
333.33
8.000
333.33
//
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8.000
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8.000
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/3
8.000
333.33
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/*
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8.000
333.33
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8.000
333.33
8.000
333.33
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3/
3,
8.000
0.00
8.000
0.00
33
34
8.000
0.00
8.000
0.00
3*
Total pmts
93,250.00
Total Int
43,250.00
&..0
43,350.00
&0
93,350.00

% &  
Change any blue figure. Use mouse to read comments
)*+"+++ (  
)+
Enter other initial fees not added to the loan in month 0
)*+"+++
Including added fees
,*
Years (max 35 yrs). Set interest rate each year in table below
)*+"+++
(0 for repayment, otherwise interest-only element)
/,
Every year (eg 1 for annual, 12 for monthly, 365 for daily rests)
7.2511

2$3
)43"3*+
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% pa to four decimal places (same as the IRR for the full term)
Rounded to one decimal, as required from 14th April 2000
As per the Consumer Credit Act

   




     
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0.00
0.00
0.00
0.00
0.00
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0.00
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0.00
0.00
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0.00
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0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
100.00

8 
  

50,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
0
0
0
0
0
0
0
0
0
0

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53,155
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54,428
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312.50
54,501
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54,580
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87,535
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100,690
0
Required capital:
50,000
This table assumes the same payments as the normal
schedule (plus costs) but with a fixed monthly interest
rate. This rate is calculated with "Tools, Goal Seek" using a
Script. The Script makes cell M68 = E20 by varying J33.
M68 is the required capital at the term end.
The resultant interest is the monthly IRR which is converted
to annual. Provided all the stautory costs & fees are
entered, this IRR will equal the APR as laid down by the
Consumer Credit Act 1974 (as amended to take effect in
April 2000).

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