How it works
Formula
Payment = P·r(1+r)^n / ((1+r)^n − 1) with r = APR ÷ 12 and n = months; for a 0% loan it is simply P ÷ n. Interest each month is the remaining balance × r. Fees that are not part of the APR are not included.
Frequently asked questions
What is the difference between interest rate and APR?
The APR includes certain fees, so it is usually a bit higher than the note rate. Enter the APR to compare offers on a like-for-like basis.