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 ?
In the second reading of the second quarter GDP, the US Commerce Department today revealed that gross domestic product rose at a 2.0% annualized rate, reversing the 2.1 percent drop reported last month.
Data from the PSA indicated that unhusked rice production in the first half shrank by an annualized rate of 5.09 percent to 8.269 million metric tons while corn output fell by 4.33 percent year-on-year to 3.597 MMT.
Producer price inflation is also likely to lose momentum, with annualized rate slipping to 1.7 percent in June from 1.8 percent in the previous month.
TItle loan companies can charge 25 percent per month for a contract up to $2,500, an annualized rate of 300 percent.
The commercial mortgage segment has grown by an annualized rate of 4.2% in the YTD period, still trailing behind the 5.7% rate for all of 2017.
According to the study, all of the rise in average costs per insured home was due to growth in the average claim severity, which grew at an annualized rate of 7.8% from 1997 to 2013, or more than three times the rate of inflation.
Gross domestic product rose at a 3.9% annualized rate, according to Commerce Department figures.
Also, the number of store locations is expected to rise at an annualized rate of 4.3%, reaching 126,534 stores in 2018.
Annualized rate of change captures the relative reduction in smoking prevalence, and several countries had notable declines of 2% or more between 1980 and 2012.
Gross domestic product climbed at a revised 4.1 percent annualized rate, the strongest since the final three months of 2011 and up from a previous estimate of 3.6 percent, Commerce Department data showed Friday in Washington.
Real GDP grew at an annualized rate of 3.6 percent in the third quarter of 2013 according to the Bureau of Economic Analysis's second estimate.