What is ANNUAL PERCENTAGE RATE (APR)?

A way to quote interest rate on loans. It is done when interest is done nonannually. It incldes all fees and remaining principal. Refer to add on loan.

More On This Topic



Link to This Definition
Did you find this definition of ANNUAL PERCENTAGE RATE (APR) helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary