what is apr% mean what is that mean

tiara4321 | 21:46 Thu 14th Aug 2008 | Business & Finance

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why do they mean by apr% instead of 10 % whats the differance????

name coined

if you took ut a loan??

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minuteman

APR is the annual percentage rate. It means the true rate applied to the amount outstanding on a loan at the time the next interest charge is applied (ie after applying capital repayments. This compares with the 'flat rate' which shows the interest charged on the total sum borrowed. The APR is usually about 2x the equivalent flat rate.

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