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 ?
Over the last three months, the manufacturing industries' PPI has increased at a 5.4% annualized rate. Likewise, although deflation in import prices has continued throughout the past seven years, the consumer goods import price index has recently moderated its descent.
The Consumer Price Index (CPI) rose at an annualized rate of 3.3% in September, down from August's 4.0% annualized increase.
The Consumer Price Index (CPI) rose at an annualized rate of 4.8 percent in January, following a 4.4 percent increase in December, outpacing its 6-month, 12-month, and 5-year trends.