| Loan Amount | £400.00 |
| Start Date | 28/08/2026 |
| Duration | 1 months |
| Finish Date | 28/09/2026 |
| Total Days | 31 days |
| Monthly Rate | 9.99% |
| Total Interest | £39.96 |
| Total Repayment | £439.96 |
| APR | 213.50% |
Step 1: Monthly interest amount
£400.00 × 9.99% = £39.96 per month
Step 2: Duration in months
1 months
Step 3: Total interest
£39.96 × 1 months = £39.96
Step 4: Total repayment
£400.00 + £39.96 = £439.96
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)
£39.96 ÷ £400.00 = 0.09990000
Step 2: 1 + C/P
1 + 0.09990000 = 1.09990000
Step 3: t (Duration in years)
1 months ÷ 12 = 0.08333333 years
Step 4: 1/t
1 ÷ 0.08333333 = 12.00000000
Step 5: (1 + C/P)1/t
1.0999000012.00000000 = 3.13500635
Step 6: APR
100 × (3.13500635 − 1) = 213.50%