Method 1: Using Interest Rate and Fees
This is the most straightforward method and applies to situations where the loan agreement explicitly states the interest rate and any associated fees.

Find the total finance charges: This should be listed in your loan agreement and includes the interest you'll pay over the loan term and any origination fees or other charges.

Divide the total finance charges by the loan amount: This gives you a decimal value representing the cost of borrowing per dollar of the loan.

Divide the result from step 2 by the number of days in the loan term: Typically, a year has 365 days, but some calculations might use 360.

Multiply the result from step 3 by 100: Convert the decimal into a percentage representing the Annual Percentage Rate (APR).
Here's the formula:
APR = (Total Finance Charges / Loan Amount) / (Days in Loan Term) * 100
Method 2: Using Loan Terms (Interest Rate Not Given Directly)
If the loan agreement doesn't explicitly state the interest rate or fees but provides the following information, you can still calculate APR:

Loan amount

Monthly payment amount

Loan term in months
You'll need a financial calculator or an online APR calculator for this method.

Program the loan amount, monthly payment, and loan term into the calculator.

The calculator will determine the interest rate and then calculate the APR based on the formula mentioned in Method 1.
Things to Consider:

Not all fees associated with a loan are included in APR calculations. Look for additional fees like late payment penalties that may not be factored into the APR.

APR is a helpful tool for comparing loan offers, but it's not the only factor to consider. Think about factors like the total loan cost, repayment terms, and any prepayment penalties.