Donate SIGN UP

what is apr% mean what is that mean

Avatar Image
tiara4321 | 21:46 Thu 14th Aug 2008 | Business & Finance
1 Answers
why do they mean by apr% instead of 10 % whats the differance????
Gravatar

Answers

Only 1 answerrss feed

Best Answer

No best answer has yet been selected by tiara4321. Once a best answer has been selected, it will be shown here.

For more on marking an answer as the "Best Answer", please visit our FAQ.
APR is the annual percentage rate. It means the true rate applied to the amount outstanding on a loan at the time the next interest charge is applied (ie after applying capital repayments. This compares with the 'flat rate' which shows the interest charged on the total sum borrowed. The APR is usually about 2x the equivalent flat rate.

Only 1 answerrss feed

Do you know the answer?

what is apr% mean what is that mean

Answer Question >>