Credit Cost

Annual Percentage Rate (APR)
The Annual Percentage Rate (APR) is the cost of credit that consumers pay, expressed as a simple annual percentage. It represents the annual effective interest rate charged on loans or credit and is mandated by the federal Truth in Lending Act to be disclosed in all consumer loan agreements.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.