Payday Loan APR Calculator

com.calculator.apr

View detailed information for Payday Loan APR Calculator — ratings, download counts, screenshots, pricing and developer details. See integrated SDKs and related technical data.

Total installs
399(399)
Rating
0.0
Released
August 10, 2019
Last updated
December 26, 2020
Category
Finance
Developer
Chat Rooms Team
Developer details
Name
Chat Rooms Team
E-mail
dev@fastpaydayloans.co
Website
unknown
Country
unknown
Address
unknown
Android SDKs
Payday Loan APR Calculator Header - AppWisp.com

Screenshots

Payday Loan APR Calculator Screenshot 1 - AppWisp.com
Payday Loan APR Calculator Screenshot 2 - AppWisp.com
Payday Loan APR Calculator Screenshot 3 - AppWisp.com
Payday Loan APR Calculator Screenshot 4 - AppWisp.com

Description

APR Calculator: If you just want a payday loan APR calculation without doing the math or digging into details, use this app APR Calculator for a quick calculation.

Why is the APR for payday loans so high?

Payday Loans up to $1000 or less, known as Payday Advances. These loans are most often a week or just days. Hence, the APR when calculated is excessive.

Usually term length for a payday loan is only 14 days. You are essentially taking the cost of the loan for that 14 days period. If using APR, that you’re assuming that that cost would be applied again every 14 days.

There are a little over 26 suchlike periods in a year. That’s why payday loan have such a high APR.

How to Calculate the APR for a Payday Loan?

To use this APR Calculator, make a select in dollars to the loan amount field, the loan fee in dollars and a loan term in days. Tap on Calculate and see the APR.