Online Calculators > Financial Calculators > Finance Charge Calculator

Finance Charge Calculator

Finance Charge Calculator to calculate finance charge for credit card, mortgage, auto loan or personal loans. The Finance charge formula below shows how to calculate finance charge for a loan. Simply enter the current balance, APR, and the billing cycle length, and the finance charge along with your new loan balance will be calculated.

Online Finance Charge Calculator

Current Balance Owed: $
Annual percentage rate (APR): %
Billing Cycle Length:
Finance charge: $12.33
New Balance Owe: $1,012.33

How to Calculate Finance Charge

Following is the general finance charge formula that shows how to calculate finance charge quickly and easily.

Finance Charge = Current Balance * Periodic rate, where
Periodic Rate = APR * billing cycle length / number of billing cycles in the period.



For example, following is how we calculate the finance charge for a loan of $1,000 with a 18% APR and a billing cyles of 25 days.

1. Convert APR to decimal: 18/100 = 0.18
2. Calculate period rate: 0.18 * 25 / 365 = 0.0123
3. Calculate finance charge: 1000 * 0.0123 = 12.33

* billing cycle is 365 in a year since we are calculating by "days". If we were to use months, then the number of billing cycles is 12 or 52 if we were calculating by week.


Electrical Calculators
Real Estate Calculators
Accounting Calculators
Business Calculators
Construction Calculators
Sports Calculators
Physics Calculators
Random Generators



Financial Calculators
Compound Interest Calculator
Mortgage Calculator
How Much House Can I Afford
Loan Calculator
Stock Calculator
Investment Calculator
Retirement Calculator
401k Calculator
eBay Fee Calculator
PayPal Fee Calculator
Etsy Fee Calculator
Markup Calculator
TVM Calculator
LTV Calculator
Annuity Calculator
How Much do I Make a Year

Math Calculators
Mixed Number to Decimal
Ratio Simplifier
Percentage Calculator

Health Calculators
BMI Calculator
Weight Loss Calculator

Conversion
CM to Feet and Inches
MM to Inches

Others
How Old am I
Random Name Picker
Random Number Generator