Term of the Day APR Definition Annual Percentage Rate. The yearly cost of a loan, including interest, insurance, and the origination fee (points), expressed as a percentage. Often applied to mortgages, credit cards, and automobile financing. Learn more about this term» Usage Example Despite the recent credit crisis we obtained, through our credit union, a $50,000 home equity line of credit with an APR below prime. Source: 5 Ways to Finance Your Small Business
Posted on: Sun, 21 Jul 2013 22:05:46 +0000
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