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alexdok [17]
3 years ago
12

An annual percentage rate, or APR, represents how much

History
2 answers:
NemiM [27]3 years ago
8 0

<span>An annual percentage rate or APR represents the actual yearly cost of funds over the term of a loan. It is the rate charged for borrowing or made by investing that includes fees and </span>additional costs associated with the transaction.

garri49 [273]3 years ago
3 0

Annual Percentage Rate, or APR, represents how much rate is to be charged for borrowing or earned through an investment on an annual basis. APR is expressed as a <u>percentage</u>, and this percentage represents the yearly cost of funds over the term of the investment or spending. It basically explains the cost of borrowing.

For example, if you have a loan that has an APR of 10%, then you would pay $10 for every $100 you borrow annually.

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