NSWIn ForceRegulation
Pawnbrokers and Second-hand Dealers Regulation 2026
21Equivalent annual interest rate
Start here
Get a plain-English read of 21
Turn the raw legal text into a practical explanation grounded in Pawnbrokers and Second-hand Dealers Regulation 2026.
21 Equivalent annual interest rate
21 Equivalent annual interest rate
(1) For the Act, section 28(2)(c), the equivalent annual interest rate is calculated by multiplying the periodic interest rate by the number of times the interest period occurs in 1 year.
(2) In this section—
interest period means the period of time during which a rate of interest applies.
periodic interest rate means the rate, expressed as a percentage, for each interest period at which interest accrues on the portion of the loan that remains unpaid.