| Loan Amount | £100.00 |
| Start Date | 15/06/2026 |
| Duration | 6 months |
| Finish Date | 15/12/2026 |
| Total Days | 183 days |
| Monthly Rate | 10.49% |
| Total Interest | £62.94 |
| Total Repayment | £162.94 |
| APR | 165.49% |
Step 1: Monthly interest amount
£100.00 × 10.49% = £10.49 per month
Step 2: Duration in months
6 months
Step 3: Total interest
£10.49 × 6 months = £62.94
Step 4: Total repayment
£100.00 + £62.94 = £162.94
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)
£62.94 ÷ £100.00 = 0.62940000
Step 2: 1 + C/P
1 + 0.62940000 = 1.62940000
Step 3: t (Duration in years)
6 months ÷ 12 = 0.50000000 years
Step 4: 1/t
1 ÷ 0.50000000 = 2.00000000
Step 5: (1 + C/P)1/t
1.629400002.00000000 = 2.65494436
Step 6: APR
100 × (2.65494436 − 1) = 165.49%