By Leanna Kelly Whether you’re applying for a credit card or calculating the expected return on an investment, three simple letters have significant bearing on your decision: APR. What is APR? It stands for annual percentage rate. It represents the amount of annual interest paid to investors or owed by borrowers. It’s a figure that includes costs and fees, but doesn’t take into account compounding. As a result, it’s a great baseline for comparing the worthiness of investments or the cost of different credit products.
In evaluating APR, borrowers and investors need to be cognizant of how it affects their wealth based on …read more
