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.

Cross-references

Truth in Lending Act.

References in periodicals archive ?
2] (for the period 1982 to 2002) to annual percentage rates of change.
The continuous rates of change were converted to annual percentage rates of change using Equation [3] and listed in Table 2.
In 2003, District of Columbia Commissioner of Insurance and Securities Regulation Lawrence Mirel told participants in a legal seminar that the complaints cited failure to provide an annual percentage rate for these fees as an unfair trade practice.
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.
We are also aware that consumers receive in the mail offers for card accounts enclosed in envelopes that may boldly display a term such as an introductory low annual fee or annual percentage rate.
50% nondeclining reserve account, the yield supplement account (YSA) designated to compensate for low annual percentage rates (APR), and the availability of excess spread which builds the reserve account to its target and floor of 0.
12 is deposited into a yield supplement account (YSA), which augments interest collections on receivables with annual percentage rates (APRs) less than the time weighted average note rate plus the 1% servicing fee.
Those who do file may be victimized by the high-priced `refund anticipation loans' offered by commercial tax preparation offices with annual percentage rates as high as 700 percent.
47 was deposited into a yield supplement account, which augments interest collections on receivables with annual percentage rates (APRs) less than the time weighted average note rate plus the 1% servicing fee.
The certificates have no coupon associated with them and will act essentially as overcollateralization, mainly to protect against credit losses and partially to compensate for receivables in the collateral pool with low annual percentage rates (APRs).
Additionally, automatic links to auto loan rates, credit card rates and insurance quotes can be found on the new site, as well as loan fees, annual percentage rates and rate lock periods.