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 ?
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].
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.
The bill would define a high-cost mortgage as one that meets at least one of the following characteristics: (1) the annual percentage rate (APR) exceeds the yield on U.
Under this "trigger term" approach, a card issuer that advertisers its annual percentage rate, for example, must also disclose any minimum finance charge, transaction fee, or similar charge.

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