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| Name | Annual Percentage Rate (APR) - What is Annual Percentage Rate? |
| Video Uploader | Video From michel sesar |
| Upload Date | This Video Uploaded At 02-10-2020 15:51:52 |
| Video Discription | In this financial dictionary video we will explain the financial term annual percentage rate (APR): what is annual percentage rate (APR), how do annual percentage rate (APR) work, annual percentage rate (APR) definition and meaning. The annual percentage rate, or APR, is the actual interest rate that a loan charges each year. This single percentage number is truthfully used to represent the literal annual expense of using money over the life span of a given loan. Annual percentage rate not only covers interest charged, but can also be comprised of extra costs or fees that are at tached to a given loan transaction. Credit cards and loans commonly offer differing explanations for trans action fees, the structure of their interest rates, and any late fees that are assessed. The annual percentage rate provides an easy to understand formula for expressing to borrowers the real and actual percentage number of fees and interest so that they can measure these up against the rates that other possible lenders will charge them. Annual percentage rate can include many different elements besides interest. With a nominal APR, it simply involves the rate of a given payment period multiplied out to the exact numbers of payment periods existing in a year. The effective APR is often referred to as the mathe matically true rate of interest for a given year. Effective APR’s are commonly the fees charged plus the rate of compound interest. |
| Category | People & Blogs |
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