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2. Annual percentage rate - Wikipedia

   en.wikipedia.org/wiki/Annual_percentage_rate

   The term annual percentage rate of charge (APR), [1] [2] corresponding sometimes to a nominal APR and sometimes to an effective APR (EAPR), [3] is the interest rate for a whole year (annualized), rather than just a monthly fee/rate, as applied on a loan, mortgage loan, credit card, [4] etc. It is a finance charge expressed as an annual rate.

3. How To Calculate APR: Your Guide - AOL

   www.aol.com/finance/calculate-apr-guide...

   You’ve likely seen the term APR when shopping for a car loan or credit card. ... What does 5.00% APR mean? A 5.00% APR means that your loan or credit card will have a real annual cost of 5% ...

4. What Is APR? What You Need To Know - AOL

   www.aol.com/finance/apr-know-155222531.html

   The annual percentage rate, or APR, is an essential concept for anyone borrowing money to understand. It is the total rate of interest paid annually over the life of a loan. APR plays a vital role ...

5. APR vs. Interest Rates: What’s the Difference? - AOL

   www.aol.com/finance/apr-vs-interest-rates...

   How APR Works. APR is a broader calculation of the cost of the loan and considers the interest rate and other fees and costs. For example, if you are taking out a mortgage, the APR describes the ...

6. Car finance - Wikipedia

   en.wikipedia.org/wiki/Car_finance

   The borrower then pays off the financial institution the same as for a direct loan. [citation needed] Typically, the indirect auto lender will set an interest rate, known as the "buy rate". The auto dealer then adds a markup to that rate, and presents the result to the customer as the "contract rate".

7. Nominal interest rate - Wikipedia

   en.wikipedia.org/wiki/Nominal_interest_rate

   A loan with daily compounding has a substantially higher rate in effective annual terms. For a loan with a 10% nominal annual rate and daily compounding, the effective annual rate is 10.516%. For a loan of $10,000 (paid at the end of the year in a single lump sum ), the borrower would pay $51.56 more than one who was charged 10% interest ...