|Definition||:||Annual Percentage Rate|
|Category||:||Business » Finance|
What does APR mean?
Annual Percentage Rate (APR) is the equivalent interest rate considering all additional costs charged on a certain loan amount. The APR reflects not only the interest rate but also the points, mortgage broker fees, and other charges that you have to pay to get the loan. For that reason, your APR is usually higher than your interest rate.
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Frequently Asked Questions (FAQ)
What is the full form of APR in Finance?
The full form of APR is Annual Percentage Rate