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Missouri Division of Finance     
301 W. High Street
Room 630,
P.O. Box 716
Jefferson City, MO  65102
Phone: 573 751-3242
Fax: 573 751-9192
E-Mail: finance@dof.mo.gov

APR Calculation Formula

FEE (Origination fee + Interest)

divided by

AMOUNT FINANCED

divided by

NUMBER OF DAYS OF TERM OF NOTE

multiplied by

365

multiplied by 100 (this will put your decimal place in correct place)

=APR

Examples:

     $15  /  $100  /  14  X  365  X  100   =   391.07 APR  ($100 loan for 14 days with $15 fee)

$12.50  /    $50  /  14  X  365  X  100   =   651.79 APR  ($50 loan for 14 days with $12.50 fee)