What this calculator does
This calculator shows the total cost of a payday loan after each rollover period. It helps you see why the APR is often in the triple digits.
The math
Fee per rollover = loan amount × fee per $100 ÷ 100. Total cost = loan amount + (fee × number of rollover periods). APR = total fees ÷ loan amount × (52 ÷ rollover periods in weeks) × 100.
Worked example
A $500 loan with a $15 fee per $100, rolled over 12 times, costs about $900 in fees alone and the effective APR can exceed 390%.
Why this matters
When money is tight, the right arithmetic can protect your housing, food, and transportation. This tool gives you a fast triage number so you can make the least-damaging choice.
Methodology and transparency
This page publishes the exact formula used to compute the result, so you can verify it in a spreadsheet or check the assumptions against your own situation. The worked example uses the tool default inputs; change any number and the result updates live in your browser. No data is sent or stored.
Common questions
What is a rollover?
A rollover happens when you extend the loan instead of paying it off, usually paying another fee every two weeks.
Why is the APR so high?
Because the fee is charged repeatedly for a small, short-term loan. The annualized rate compounds quickly.
Are payday loans ever worth it?
Almost never. The cost usually exceeds alternatives like payment plans, credit counseling, or even a credit card cash advance.