annual percentage rate (APR)
Definition
Standardized method of quoting the effective interest rate (actual cost of credit) on consumer loans, specially where interest is computed on monthly or other non-annual basis. An APR includes all fees (except penalties), and takes into account the continual reduction of principal amount through amortization. See also add on loan.
annual percentage rate (APR) is in the Accounting & Auditing, Banking, Commerce & Finance and Investing subjects.
annual percentage rate (APR) appears in the definition of the following term: truth in lending
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