| Annual Percentage Rate - APR | |
 The one year rate that is charged for borrowing (or made by investing). By law, credit card companies and loan issuers must show customers the APR. |
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 For example a credit card company might charge 1% a month, but the APR is 1% x 12 months = 12%. This differs from APY, which also takes into account compound interest. |
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 Understanding The Time Value Of Money - Find out why time really is money by learning to calculate present and future value. How the Distinction Between APR and APY Affects You - Learn and ensure the different rates quoted to you by banks and institutions are what they claim to be. |
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