Apr
4
9.5
- proper noun
- Specialized
:
APR
- Some fees are not always considered part of the cost of credit and should not be included in the APR.
- Annual Percentage Rate (APR)
- APR for purchases
- APR: 11.5% # ANNUAL FEE
Examples
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To illustrate, assume you could get a $13,000, 48-month loan from a bank at a 10 percent APR, and that the special manufacturer-offered plan's rate is 5.9 percent.
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Quite simply, the APR is dependent on how much of a financial risk an individual poses for the loan agency.
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Make sure you shop around to get the best deal in terms of APR, etc.
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For instance, call your credit card companies and negotiate a lower APR.
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A lending company figures out the APR on a loan based on how good a person's credit rating is.
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The APR can be calculated using software, such as the credit calculator available on this site.
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With a secure loan, the use of collateral can mean that the APR is not extortionate, just a few points higher than a normal loan.
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Don't be deceived by the attractive 0% intro APR.
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The annual percentage rate (APR) on your mortgage can significantly impact the total amount you pay over time.
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When applying for a credit card, it is essential to consider the APR, as it determines your borrowing costs.
Surface Forms
Etymology
Apr is also the name of a software library, short for Apache Portable Runtime. A helpful way to remember it is to think of a 'portable' toolbox that helps programs work on many systems, which is why developers use Apr to make applications run on different servers.