Solve for the interest rate, payment, or term on any loan — mortgage, auto, or personal — using this general-purpose interest rate calculator.
The interest rate is the cost of borrowing the principal, while APR includes the interest rate plus additional fees and costs, giving a more complete picture of the loan's true annual cost.
Longer terms lower the monthly payment but increase total interest paid, since interest accrues for a longer period even if the rate stays the same.