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Annual Percentage Rate (APR) Financial Glossary

What is it? The yearly interest percentage of a loan, as expressed by the actual rate of interest paid. For example, 6% add-on interest would be much more than 6% simple interest, even though both would say 6%. The APR is disclosed as a requirement of federal truth in lending statutes.

Finance Term Definition Added By: Elijah

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We hope you now understand the meaning of Annual Percentage Rate (APR). If you need any more information on this term, please don't hesitate to contact us.

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