Javascript Homebuy APR Equivalent Calculator

This calculator will work out the APR equivalent to be disclosed in place of an APR in credit agreements for loans under the Housing Corporation and Welsh Assembly Homebuy schemes.

NOTE:  this figure can only be substituted where the Director General of Fair Trading has granted a direction under section 60(3) of the Consumer Credit Act 1974 allowing its use.

To use the calculator, fill in the figures in the boxes marked '*' and click on the 'Calculate' button to display the result in the final box.  Click on the 'Reset' button to clear the calculator for a new calculation.

* Amount of the credit advanced (£):
* Amount of the final repayment (£):
* Time of the repayment (years):
APR equivalent:

Coded in JavaScript and HTML by Brian Stewart, v1.1 October 2001