Machine Design

How-to, in-depth technical articles for machine design engineers

Quality Magazine

Techniques to improve quality on the shop floor and in manufacturing planning.

NASA Tech Briefs

Innovations developed by NASA and its industry partners in a wide array of fields.

Salary Expectation

8 things to know about the interview question "What's your salary expectation"?

more free magazines
Advanced APR Calculator

Loan Amount (C)

*Extra Cost (E)

Interest Rate % (R)

Compound Frequency (m)

No. of Payments (N)

Payment Frequency (q)

APR (A): 
* The Extra Cost (E) is the lump sum of all extra costs involved in the loan, which include points, application fee, closing cost, processing fee, title fee, and so on. In short, it's the money you borrowed that you never saw.
This calculator first calculates the monthly payment using C+E as the total loan amount:
where r is the adjusted equivalent interest rate applied to the total loan amount C+E
The APR is essentially the actual interest rate applied to the intended loan amount C and can be calculated iteratively by solving the following equation using the Newton-Raphson method:
The annual percentage rate A is calculated using the following formula: