annual percentage rate

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annual percentage rate

n
(Banking & Finance) the annual equivalent of a rate of interest when the rate is quoted more frequently than annually, usually monthly. Abbreviation: APR
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014
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BMW Financial Services quizzed more than 1,000 people about the jargon commonly found on car purchasing agreements, with a cumulative two thirds saying they would have trouble explaining at least one of the key features, like 'annual percentage rates' and 'excess mileage'.
THERE has been a tremendous amount of controversy in the news recently regarding pay day loan companies, all of whom charge extortionate amounts in their annual percentage rates (APR).
Not even three years in the business and Wonga has already extended over one million loans but has come under heavy criticism for charging annual percentage rates of about 3,000%.
People were encouraged to think carefully before signing agreements, compare lenders and Annual Percentage Rates (APRs) before borrowing and to get impartial debt advice.
Store cards were roundly criticised in a report by the Competition Commission in 2006, which warned: "There is little or no competitive pressure on the setting of annual percentage rates ...
Providers that charge Annual Percentage Rates (APRs) greater than 25 per cent will have to inform customers on their monthly statement that cheaper credit may be available elsewhere.
Some of the more serious problems with some payday loans include annual percentage rates (APR) of up to 400 to 500 percent and no provisions for borrowers to make partial payments.
But these details are confusing even to lawyers: A typical MBNA disclosure box contains 18 different Annual Percentage Rates (APRs).
Annual percentage rates of change for Northeastern regional sawtimber and pulpwood stumpage prices were estimated for the period 1961 to 2002.
Plaintiffs allege that insurers should disclose annual percentage rates and finance charges if a single annual payment would total less than a year of monthly, quarterly or semiannual premium payments.
The NEA Platinum Plus[R] Card and the NEA Quantum Credit Card offered by MBNA America both feature low annual percentage rates, a high credit line, no annual fee, 24-hour secure online account access, and much more.
"Annual percentage rates were introduced before credit cards really took off in this country and they don't provide a meaningful guide to charges.

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