What is the apr on a loan that charges interest at the rate of 1.4% per month?

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22-02-2018
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What is the apr on a loan that charges interest at the rate of 1.4% per month?

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MrsTriplet MrsTriplet · Answer 1 · 2018-03-06T02:51:17+01:00

MrsTriplet MrsTriplet

06-03-2018

The APR stands for the Annual Percentage Rate. To find the APR (12 months) on a loan that charges interest at the rate of 1.4% per month you will need to multiply the monthly rate of 1.4 by 12 months. 1.4 x 12 months = 16.8% APR

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