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OnMyWayOut

Calculation to work out interest rate/APR

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I had a finance to buy a car several years ago that I'm looking into relating to PPI.  At the moment I have the figures used for the loan but not yet found a copy of the CCA - this goes back to the 90's.  The PPI claim is already in, but I want to be able to check their calculations when they respond.

 

I know the amount financed, the PPI charge, admin fee, interest charge, monthly payment and number of payments.  The admin fee was added to the first payment of 36.  Is there a formula that lets you work out the interest rate given the information I have?

 

I can provide real (or close enough) figures if necessary, but just need to know if there's a way to work it out using the pieces of information I have.

 

Thanks,

OMWO.

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see below. in my sig.

 

and the spreadsheet you want is statint sheet

 

 


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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