Annual percentage rate (APR) and effective APR
7:12
Khan AcademySal Khan
Annual percentage rate (APR) and effective APR
APR stands for Annual Percentage Rate. It's the yearly interest rate you pay on a loan or credit card. However, a credit card's advertised APR isn't the true interest rate because it compounds daily. Learn how to calculate the effective APR to find a card's true interest rate.
Feb 20, 2011
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Annual percentage rate (APR) and effective APR
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A tempting interest rate doesn’t always tell the whole story. Annual percentage rate (APR) accounts for fees and other costs, giving you a clearer view of what works for your budget. Ready to see how your options stack up? Let's connect to run the numbers: http://ms.spr.ly/6180t3bCo #MortgageMyth #HomebuyingTips #MortgageTips | The Pugel Team at Guaranteed Rate Affinity
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