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APR |
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APR Annual Percentage Rate The cost of funds or interest rate for an entire year expressed as a single percentage. Significantly, the APR does not account for compounding. For example, if the APR is 36%, the percentage is 3% per month, but the interest rate or cost of funds for the entire year may be greater than 36% due to the effects of compounding. By law, a credit card company or other lender must inform the customer of the APR before any agreement is signed. The APR provides the customer with a convenient number against which to compare the cost of funds for other loans or investments. Annual percentage rate (APR). A loan's annual percentage rate, or APR, is what credit costs you each year, expressed as a percentage of the loan amount. The APR, which is usually higher than the nominal, or named, rate you're quoted for a loan, includes most of a loan's up-front fees as well as the annual interest rate. You should use APR, which is a more accurate picture of the cost of borrowing than the interest rate alone, to compare various loans you're considering. APR See annual percentage rate.APR See Annual Percentage Rate. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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A few years ago, credit card companies started offering a 0% APR feature to attract more customers APR stands for annual percentage rate, and it represents the interest rate that is applied to the balance you carry Apr 1 ICAS Aileen Beattie memorial lecture, London (deputy president attending). : Apr 1 Stoke (a), Apr 8 Hull City (h), Apr 15 Cardiff (a), Apr 17 Leeds (h), Apr 22 Luton (a), Apr 30 C Palace (h). |
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