Hoping to draw on the help of an APR genius on this challenge that so far Excel / Finance and Mathematicians are struggling to find a solution on.

I have 5,000 loan details that I need to calculate the APR for. However, I only have the following information:-

Original Loan Amount (i.e. £10,000)

Term of Loan (i.e. 120 months)

Total Payable (i.e. £13,000)

Question is how can I work out the APR based solely on this information? I am trying to solve this using Excel, data being columns A to C. In column D, I want the APR to be calculated.

One person suggested calculating the IRR and using that but I do not have the monthly payment amount for these loans, only the starting and end point.

Anyone help with this .... you're my last hope of saving my bacon ..... thank you :-)

5.96 Apr

I was under the impression the company would have to provide clear information on APR - so if you don't have it, worth asking them for it.

This is a tough one.

APR is based on the total cost of all fees and charges. This differs between each financial institution and the way they calculate the APR will differ from company to company.

Each company is obliged to send you a full calculation to how they reach your apr.