Hi I was wondering if someone could help me with this. I have figures for a 10 week loan including the yearly APR% but need to find the formula that calculates the APR%, so work backwards. These are the figures I have
loan amount - £350.00
Loan Charge - £175.00
Loan Period - 10 weeks
Weekly Repayments - £52.50
Weekly interest - 5%
Annual Interest - 260%
APR - 5763.6%
Can anyone help with the formula that would calculate the APR figure based on the above.
Thanks in advance
Tony
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