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# What does the term annual percentage rate mean for a loan?

# Is the annual percentage rate usually lower than the actual interest rate on the loan?

Annual percentage vs effective rate The actual interest rate on a mortgage will always be higher than the annual percentage rate unless the borrower keeps the lo…an for the full term. Refinancing or selling before the end of the term results in a much higher actual (effective) interest rate. The effective rate on a mortgage can be lower than the annual percentage rate (fixed rate) by paying extra to principal especially early in the mortgage term.

# Annual percentage rate calculation?

Q. A applicant accepts an offer of a 25 years fixed rate loan from a lender at an interst rate 6 5%for an amount of $150,000. The lender charges include a loan origination fe…e of $4500 and 2 discount point. How do you calculate the APR ?

# How does the annual percentage rate measure the true cost of a loan?

The annual percentage rate, or APR, does not measure the true cost of a loan, though does make up an important part of the true cost. The Effective Percentage Rate, or EPR, …measures the TRUE annual cost of a loan by incorporating the following elements into the calculation: * Annual percentage rate * Application fees * Origination fees * Points/cost reduction fees * Other lending closing costs Generally, very low APRs are presented by a number of lenders, however, the fees and/or points that must be paid at closing to obtain those fees may make the loan less attractive (especially for borrowers that don't have a lot of money to spend upfront).

# What is the annual percentage rate of visa?

It is 17.99%

# If a loan shark floats a loan and charges the usurious rate of 33 percent per month what is the effective annual percentage rate?

you shouldn't bother, because you're not going to be taking loans from a loan shark. go to bank of america, jeez!

# What does the term annual percentage rate mean for a certificate of deposit account?

Annual percentage yield (APY) is a normalized representation of an interest rate, based on a compounding period of one year

# How the annual percentage rate measures the true cost of a loan?

how the annual percentage rate measures the true cost of a loan

# What a loan is What interest is And how the annual percentage rate measures the true cost of a loan?

What a loan is: A sum of money lent at interest. What interest is: A charge for a loan, usually a percentage of the amount loaned. And how the annual percentage rate measures …the true cost of a loan? Annual percentage rate, commonly referred to as APR, is what creditors charge consumers in order to allow them to make installment payments on rather large purchases, such as http://wiki.answers.com/Q/What_does_the_term_annual_percentage_rate_mean_for_a_loan and homes. Loan types, credit score, report, and history, can all have effects on what APR you can get for a loan.

# What is the percentage rate of easy loans?

The percentage rate for an on-line easy loan is not available until a preliminary application has been completed. Speaking in broad terms, according to the easy loan source, t…he actual percentage rate is determined by the actual lender which is not the easy loan source. Most state have a maximum percentage rate allowed (it is often suggested in very small print that the potential borrower discover this rate himself). This is not needed for residents of Georgia, Ohio, Pennsylvania, North Dakota, Virginia & West Virginia as those states prohibit loans of this nature.

# What is the average Annual Percentage Rate on home improvement loans?

The average annual percentage rate or interest rate on home improvement loans is around 3.99% to 9.49%. Honestly it really depends on your credit profile.

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# What describes annual percentage rate?

An annual percentage rate is the average percentage change over aperiod of a year. The percentage change is the change divided bythe initial value, expressed as a percentage.

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# Why is an annual percentage rate important?

It allows consumers to compare rates across different providers of finance.

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# How can I change my Annual Percentage Rate?

The only way that one can change an annual percentage rate on a loan or credit card is to renegotiate the terms of the loan or credit balance with the lender. Another way wou…ld be to simply refinance the balance.

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# What describes a annual percentage rate?

A measure of the cost of credit expressed as a yearly interest rate.

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# What describes the Annual Percentage Rate?

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