Did you read the article? Perhaps you're using the "generic" definition of APR, whereas the article, most on this thread, and myself are using the U.S.-definit

Did you read the article? Perhaps you're using the "generic" definition of APR, whereas the article, most on this thread, and myself are using the U.S.-definition of APR. That is, APR would include fees and non-interest charges. On a pure mathematical calculation basis, I don't believe either is particularly difficult to understand. It's just that excluding fees--as is is done in flat-rate pricing of the ilk described by the article--is misleading vs. more inclusive APR calculations.