Does Margill calculate APR (Annual Percentage Rate)?
• Margill easily calculates APR for normal (regular) loans and mortgages. This is done in the “Recurring payments (Amortization)” calculation. • As can be seen in the screen shot below, the fees may be financed or paid up front. Depending on each case, the APR will vary slightly. • Lending legislation usually allow between 1/8% to 1/4% tolerance (maximum discrepancy) between quoted APR and the true APR (based on the various legislative formulae).
