What is annual percentage rate - Definition and Meaning

Annual Percentage Rate :

Annual percentage rate (APR) represents the annual interest rate of a loan, borrowed for an year.

Example :

A credit card company might charge 1% a month, but the APR is 2% x 12 months = 24%.
Area of convex quadrilateral Artificial Gravity

Learn what is annual percentage rate. Also find the definition and meaning for various math words from this math dictionary.

english Calculators and Converters