Why has my post been taken off?

i don't know!

Maybe you could tell us the question?

Is it the 2+2=4 question, because it is still there.

It's those bloody foreigners, lovejoy. Coming over here. Stealing our bandwidth.

I posted it twice both have been removed

all I asked was if the APR of a loan is 2356 % what does that work out in total payments on say a £1000 loan over 12 months

the 2356 % APR is NOT a misprint

BTW who are the mods on this site so I can PM them and ask what is wrong?

I have no idea why your post was removed but rather than PM the mods I would suggest hitting the "Contact Us" link at the bottom of the page.

Maybe it triggered the automatic "Spaminator" that would have read the question as someone trying to spam us with cheap refinancing and mortgages.

I do not believe Spaminator is at all automated. Scarey if it is.

I think there's some automation. Isn't that one of the reasons Rob asked us not to reply on spam threads? I didn't see lovejoy's original post to notice if it contained a link that would trigger a spam alert.

APR, Annual Percentage Rate is a way of expressing interest charges on a loan. Anybody offering credit in the United Kingdom, must, by law, (as well as having a licence) include APR details in advertisements for loans, and inform applicants of the rate before they sign any agreement. The 2356% APR figure has been in the news because a certain UK loan company has been offering loans at that eye-watering rate.

They offer short-term "payday loans" (i.e. you borrow the money until your next payday. Most people in the UK are paid monthly.) They offer varying interest rates, higher for people with less than perfect credit histories. I don't think anybody with any sense would leave it a year. However desperate people don't always think straight.

Here is the calculation asked for.

Assuming interest is compounded monthly

Loan amount = £1000
Loan period = 12 months
Monthly payments: 12
Monthly payment amount: £318.70
Total interest charge: £2,824.44
Total repayment: £3,824.44

Of course, the idea is that you don't take a year to pay back.

My understanding that replies increase the rating of a thread. Posts reported as spam are removed if the mods agree. Anyhow, most of us post what we think to be helpful commercial links from time to time, and I don't recall them being removed. That reinforces my belief about the automation.

The formula for the monthly payment is Amt/[1- (1+i)^-n]/(1+i), so your monthly payment would be £1,963.34. The total paid over twelve months is £23,560

My guess is, you hit the wrong button and only thought it posted.

That's probably what I was thinking of...

Just as a sanity check, the monthly interest rate is 2356% / 12 = 196.3%, so you would expect a payment that is close to 196% of the original balance of the loan.

Engineer is right; I used an on-line "calculator" that seems to have screwed up.

My understanding is that the moderators look at the Unanswered Questions as a quick way to check for spam, and if someone answers it makes it harder for them to find it - and that reporting spam (without responding to the thread) is good as that's even faster. Could be wrong about the unanswered questions business, naturally.

Unfortunately, Unanswered Questions includes questions with many answers, and they remain unanswered till the OP actually selects a best answer.