| Loan Amount | £350.00 |
| Start Date | 17/10/2026 |
| Duration | 6 months |
| Finish Date | 17/04/2027 |
| Total Days | 182 days |
| Monthly Rate | 10.32% |
| Total Interest | £216.72 |
| Total Repayment | £566.72 |
| APR | 162.18% |
Step 1: Monthly interest amount
£350.00 × 10.32% = £36.12 per month
Step 2: Duration in months
6 months
Step 3: Total interest
£36.12 × 6 months = £216.72
Step 4: Total repayment
£350.00 + £216.72 = £566.72
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)
£216.72 ÷ £350.00 = 0.61920000
Step 2: 1 + C/P
1 + 0.61920000 = 1.61920000
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
1.619200002.00000000 = 2.62180864
Step 6: APR
100 × (2.62180864 − 1) = 162.18%