APR
APR stands for Annual Percentage Rate, which represents the interest rate charged over a year. For instance, borrowing $1,000 at a 10% APR would result in a repayment of $1,100 by the end of the year, with the additional $100 potentially divided into 12 monthly payments as required by the creditor.
APR stands for Annual Percentage Rate, which represents the interest rate charged over a year. For instance, borrowing $1,000 at a 10% APR would result in a repayment of $1,100 by the end of the year, with the additional $100 potentially divided into 12 monthly payments as required by the creditor.
