Annual Percentage Rate
(redirected from Annualized Percentage Rate of Interest)Also found in: Dictionary, Financial.
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
West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.