APR loan calculator
Annual Percentage Rate
APR is often used by banks as a measurement for comparing loans or credit cards. It is a rate based on a compounding period, meaning this is the percentage of return based on how often your account compounds interest. Common periods include daily, monthly and yearly.
Wikipedia says...
Annual percentage rate (APR) is the simplified counterpart to the effective interest rate that the borrower will pay on a loan.
Source: http://en.wikipedia.org/
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