Enter the interest rate (%) and the additional fees and charges (%) into the Comparison Rate Calculator. The calculator will evaluate the Comparison Rate.

## Comparison Rate Formula

The following two example problems outline the steps and information needed to calculate the Comparison Rate.

COMR = IR + AF

- Where COMR is the Comparison Rate (%)
- IR is the interest rate (%)
- AF is the additional fees and charges (%)

To calculate the comparison rate, add together the interest rate and any additional fees and charges.

## How to Calculate Comparison Rate?

The following example problems outline how to calculate Comparison Rate.

Example Problem #1:

- First, determine the interest rate (%).
- The interest rate (%) is given as: 5.

- Next, determine the additional fees and charges (%).
- The additional fees and charges (%) is provided as: 2.5.

- Finally, calculate the Comparison Rate using the equation above:

COMR = IR + AF

The values provided above are inserted into the equation below and computed.

COMR = 5 + 2.5 = 7.5 (%)

Example Problem #2:** **

For this problem, the variables required are provided below:

interest rate (%) = 6

additional fees and charges (%) = 3

Test your knowledge using the equation and check your answer with the calculator..

COMR = IR + AF** = ?**