| Loan Amount | £350.00 |
| Start Date | 17/10/2026 |
| Duration | 6 months |
| Finish Date | 17/04/2027 |
| Total Days | 182 days |
| Monthly Rate | 124.1% |
| Total Interest | £2,606.10 |
| Total Repayment | £2,956.10 |
| APR | 7,033.49% |
Step 1: Monthly interest amount
£350.00 × 124.1% = £434.35 per month
Step 2: Duration in months
6 months
Step 3: Total interest
£434.35 × 6 months = £2,606.10
Step 4: Total repayment
£350.00 + £2,606.10 = £2,956.10
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)
£2,606.10 ÷ £350.00 = 7.44600000
Step 2: 1 + C/P
1 + 7.44600000 = 8.44600000
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
8.446000002.00000000 = 71.33491600
Step 6: APR
100 × (71.33491600 − 1) = 7,033.49%