| Loan Amount | £35,870.00 |
| Start Date | 18/12/2025 |
| Duration | 6 months |
| Finish Date | 17/06/2026 |
| Total Days | 181 days (1 day reduced) |
| Monthly Rate | 2.49% |
| Total Interest | £5,329.53 |
| Total Repayment | £41,199.53 |
| APR | 32.13% |
Step 1: Monthly interest amount
£35,870.00 × 2.49% = £893.16 per month
Step 2: Duration in months
6 months
Step 3: Total interest
£893.16 × 5.97 months = £5,329.53
Step 4: Total repayment
£35,870.00 + £5,329.53 = £41,199.53
APR = 100 × { (1 + C/P)1/t − 1 }
C = Total Interest • P = Loan Amount • t = Duration in Years
Step 1: C / P (Total Interest ÷ Loan Amount)
£5,329.53 ÷ £35,870.00 = 0.14857904
Step 2: 1 + C/P
1 + 0.14857904 = 1.14857904
Step 3: t (Duration in years)
5.97 months ÷ 12 = 0.49725246 years
Step 4: 1/t
1 ÷ 0.49725246 = 2.01105088
Step 5: (1 + C/P)1/t
1.148579042.01105088 = 1.32125487
Step 6: APR
100 × (1.32125487 − 1) = 32.13%