| 单词 | annual percentage rate |
| 释义 | annual percentage rate = APR The annual equivalent rate of return on a loan or investment in which the rate of interest and charges are specified in terms of an annual rate of interest. Most investment institutions are now required by law to specify the APR when the interest intervals are more frequent than annual. The use of an APR is required by the Consumer Credit Act 1974 in the UK and the Truth in Lending Act in the USA. Similarly those charge cards that advertise monthly rates of interest (say, 2%) must state the equivalent APR. In this case it would be \\[(1.02)%1%2 - 1\\] = 26.8%. |
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