Annual percentage rate (APR) and effective APR
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SOLVED: Question 14: In finance, the interest rate charged after including any fees imposed by the creditor is referred to as the annual percentage rate (APR). This rate is commonly quoted on credit and represents the true cost of borrowing. It takes into account both the interest charged and any additional fees or charges associated with the loan.
SOLVED: Question 14: In finance, the interest rate charged after incl…
Feb 7, 2022
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YouTubeJustin Pritchard, CFP® on Retirement Planning
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