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Why is the APR considered the most important factor to be mindful of in a car loan?

Justin Parker

in Mathematics

1 answer

1 answer

Daniel King on April 14, 2018

The annual percentage rate (APR) is the annual rate charged for borrowing or earned through an investment, expressed as a percentage that represents the actual yearly cost of funds over the term of a loan. For credit cards, the interest rates are calculated at the annual interest rate. This is called the annual percentage rate (APR). The interest is added to the total cost of the car.The APR helps the client to find the actual value of the car.

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