Company Setup - APR Calculations and Common Percentages.
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APR Calculations and Common Percentages

Common APRs based on a 365 day year are:

   $28.00 per $100 on a 14 day loan: 730.00% ($2.00 per day)
   $25.00 per $100 on a 14 day loan: 651.79%
   $20.00 per $100 on a 14 day loan: 521.43%
   $19.60 per $100 on a 14 day loan: 511.00%
   $18.00 per $100 on a 14 day loan: 469.29%
   $15.00 per $100 on a 14 day loan: 391.07%
   $14.00 per $100 on a 14.day loan: 365.00% (1$.00 per day)
   $10.00 per $100 on a 14 day loan: 260.71%

To calculate the APR based on a 365 day, use this formula:
APR = desired fee on a $100 loan, multiply by 365, divide by 14

To calculate the APR for loans other than 14 days or for years other than 365 days, use this:
APR = desired fee on a $100 loan, multiply by days in year, divide by loan days

Common APR for non-14-day loans:
   365.00% = $30.00 per $100 on a 30-day loan
   304.17% = $25.00 per $100 on a 30-day loan
   243.33% = $20.00 per $100 on a 30-day loan
   182.50% = $15.00 per $100 on a 30-day loan
   121.67% = $10.00 per $100 on a 30-day loan