| Loan Amount | £350.00 |
| Start Date | 17/10/2026 |
| Duration | 6 months |
| Finish Date | 17/04/2027 |
| Total Days | 182 days |
| Monthly Rate | 10.4% |
| Total Interest | £218.40 |
| Total Repayment | £568.40 |
| APR | 163.74% |
Step 1: Monthly interest amount
£350.00 × 10.4% = £36.40 per month
Step 2: Duration in months
6 months
Step 3: Total interest
£36.40 × 6 months = £218.40
Step 4: Total repayment
£350.00 + £218.40 = £568.40
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)
£218.40 ÷ £350.00 = 0.62400000
Step 2: 1 + C/P
1 + 0.62400000 = 1.62400000
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
1.624000002.00000000 = 2.63737600
Step 6: APR
100 × (2.63737600 − 1) = 163.74%