F
fatski
Guest
Bit confused here- I read some earlier posts but still not clear on one point.
I understand that APR% includes associated costs/fees in a loan, however if I was to borrow €300,000 over 25 years and the interest rate is 5.05% and the APR% is for example 5.20% does this mean I will be in fact borrowing more than the €300,000 to include these fees and charges?
If so, assuming that for this exercise that the rate doesn't change, how do I work out the total overall cost of the loan over the whole term based on the APR%?
I understand that APR% includes associated costs/fees in a loan, however if I was to borrow €300,000 over 25 years and the interest rate is 5.05% and the APR% is for example 5.20% does this mean I will be in fact borrowing more than the €300,000 to include these fees and charges?
If so, assuming that for this exercise that the rate doesn't change, how do I work out the total overall cost of the loan over the whole term based on the APR%?