What does APR stand for? What is APR used for? Why would that be important for you to understand? Explain.
ARP-annual percentage rate.You may have seen the term APR, or annual percentage rate, used in reference to everything from mortgages and auto loans to credit cards. In this piece, we look at credit card APRs—which you’ve probably seen listed on your monthly statements. Knowing what an APR is, how it’s calculated and how it’s applied can help you make more informed credit card decisions.
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March 2017
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