| Loan Amount | £7,501.00 |
| Start Date | 20/07/2026 |
| Duration | 2 weeks |
| Finish Date | 03/08/2026 |
| Total Days | 14 days |
| Monthly Rate | 7% |
| Total Interest | £242.34 |
| Total Repayment | £7,743.34 |
| APR | 128.58% |
Step 1: Monthly interest amount
£7,501.00 × 7% = £525.07 per month
Step 2: Duration in months
2 weeks ÷ 52 × 12 = 0.46 months
Step 3: Total interest
£525.07 × 0.46 months = £242.34
Step 4: Total repayment
£7,501.00 + £242.34 = £7,743.34
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)
£242.34 ÷ £7,501.00 = 0.03230769
Step 2: 1 + C/P
1 + 0.03230769 = 1.03230769
Step 3: t (Duration in years)
0.46 months ÷ 12 = 0.03846154 years
Step 4: 1/t
1 ÷ 0.03846154 = 26.00000000
Step 5: (1 + C/P)1/t
1.0323076926.00000000 = 2.28580012
Step 6: APR
100 × (2.28580012 − 1) = 128.58%