APR Formula


APR Formula

Postby Guest » Mon Jul 01, 2019 4:18 pm

Need to understand the following for work but have limited math experience. Can anyone put this into a working example to help make sense?

I've attached the image.

Loan value is £100
14 weekly payment of £9.15
Flat rate of interest £28.10
Total payable £128.10

The formula is work out the APR for the loan value.
Screenshot_20190701-210905_Samsung Internet.jpg
Screenshot_20190701-210905_Samsung Internet.jpg (347.26 KiB) Viewed 359 times

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