Annual Percentage Rate

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Annual Percentage Rate

The actual cost of borrowing money, expressed in the form of a yearly measure to allow consumers to compare the cost of borrowing money among several lenders.

The Federal Truth-in-Lending Act (15 U.S.C.A. § 1601 et seq. [1968]) mandates the complete disclosure of this rate in addition to other credit terms.


Truth in Lending Act.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.
References in periodicals archive ?
To determine if there is a significant difference between the annual percentage rate of change for the periods 1961 to 1981 and 1982 to 2002 requires testing for coincidence of the two straight lines given in equation [4].
"Consumers in need of short-term cash [should] avoid extremely expensive short term loans, and [should] instead build up a savings nest-egg to cover financial emergencies, seek budgeting and debt management assistance from non-profit consumer credit counseling services, and shop for credit based on both the dollar finance charge and the Annual Percentage Rate," advise the two organizations in a summary of a November 2001 study bashing the payday loan industry.
To work out which is going to work out cheapest you should study the annual percentage rate, which tells you the percentage of the original amount borrowed that you will have to pay back annually.
The Visa card will start at an annual percentage rate (APR) of 12.9 for the first six months and then move up to 16.9.
We guess it's not enough that the annual percentage rate almost doubled, going from 10.5 to 19.8 percent.
CashLady typically charges an annual percentage rate of 1,272%.
How many of you know the difference between annual percentage rate and equivalent annual rate?
The national average annual percentage rate (APR) dropped to 14.89 percent Wednesday after Pentagon Federal Credit Union lowered the minimum APR on one of its low interest credit cards.
A federal judge in California has ruled that a decision by HSBC Bank USA NA (LSE: HSBA) and Capital One NA to apply for a credit card payment to a balance with a lower annual percentage rate has not violated consumer protection laws.
Credit card rates have been edging up in recent months and reached a 19.1% in April, according to financial information website Moneyfacts, which started tracking APR (annual percentage rate) figures in 2007.

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