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what does APR mean

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asked Sep 30, 2013 in Savings Account by anonymous
   

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It means, 'Annual Percentage Rate'.  The APR rate of a loan is a very useful number because it assists you to compare the cost of different loans. Usually, the higher the APR on a loan, the more you'll have to pay. The APR does not include all the costs of a loan, but it tells you about the most important one.
answered Feb 10, 2014 by charlie Inquisitive Expert (100,740 points)

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