Annual percentage rate (APR) and effective APR
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Khan AcademySal Khan
Annual percentage rate (APR) and effective APR
APR stands for Annual Percentage Rate. It's the yearly interest rate you pay on a loan or credit card. However, a credit card's advertised APR isn't the true interest rate because it compounds daily. Learn how to calculate the effective APR to find a card's true interest rate.
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How is a mortgage payment calculated? It’s based on three things: how much you borrow, your rate, and how long you take to pay it back. Want to know what your payment would be? Let’s chat and I’ll do the math for you! 👩🏼‍💻 Colleen 📞 236•638•3315 #mortgageeducation #mortgagetips #canadianhomebuyers #mortgagesimplified #mortgagebroker | Mortgages by Colleen Haslett
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