An APR By Any Other Name…

November 13, 2014

When we think of finance ā€“ commercial or personal ā€“ the first thing that comes to mind is cost, of course. However, there are upfront fees, completion fees, payment frequencies, variable rates and payment periods to confuse us. To solve this problem, financial gurus developed the concept of the APR ā€“ or annual percentage rate. The concept was first used to compare long-term mortgages and has remained a part of the lending world ever since.

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