Concept information
Preferred term
annual percentage rate
Definition
- The annual percentage rate (APR) associated with a loan is the effective rate that you pay on an annual basis. If i is the annual rate, and m is the number of times a year you make payments, then the APR is Various other terms for i are the quoted rate, stated rate, nominal rate, or annual rate. [Source: Encyclopedia of Health Care Management; Annual Percentage Rate (APR)]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/annual_percentage_rate
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