I am doing a loan audit and am going to be calculating the APR for accurancy. What is a good tool to use to show exactly how you calculated the APR for the working papers? What is everyone using to do this calculation? Thanks for your input.

NeBanker

I use APRWIN from the OCC.

I also use OCC's APY program. One word of caution, you still have to determine what quailifies as a finance charge. Don't just use the numbers disclosed until you make that determination. (You know - Garbage in -Garbage out!)

Well I guess that i cannot download that program onto my computer. Does anyone have any other ideas?

Just contact IT. They had to do it for me. I'm sure they won't say no to something from the OCC's website.

He isn't selling them any longer, but there are some substitutes out there. I always ran both the OCC program on some, and Richard Insley's APRX for loans. With the APRX I could also print a tape showing input and output and attach that my workpapers.

For DD I used the same type of calculator from promsoft.com. They also have loan calculators.

The APRX was better for me than the OCC program because there are assumptions made in the OCC program that are different than in the APRX. This dealt with odd days and the APRX matched our BankersSystems program and mainframe.