1. Feb 16, 2001 #1
   

   Edwin Guest

   I'm from abroad and don't know what APR means. Can somebody explain this expression to me?
   Thanks

    

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3. Feb 16, 2001 #2
   

   numnuts20 Well-Known Member

   APR=Annual Percentage Rate
   A P R

    
4. Feb 16, 2001 #3
   

   GEORGE Well-Known Member

   ANNUAL PERCENTAGE RATE MEANS THE PERCENTAGE OF INTEREST YOU PAY PER YEAR...
   
   If you have an interest rate of 10.0% on $5,000...
   
   .10x$5,000/365 days=$1.37 per day interest=about $500.00

    

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