apr annual percentage rate of charge
The term annual percentage rate of charge (APR) , corresponding sometimes to a nominal APR and sometimes to an effective APR (or EAPR), describes the interest rate for a whole year (annualized), rather than just a monthly fee/rate, as applied on a loan, mortgage loan, credit card, etc.PRs calculated with the reduced, or eliminated, finance charge became the below market rate and Zero percent APR' loans that were commonly advertized for the next 30 years. Zero percent APR or $1,000 rebate is the most common form of these deceptive loans.