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joseph8638
Lv 6
joseph8638 asked in Business & FinancePersonal Finance · 7 years ago

What isa trhe difference between intrerest rate and apr?

2 Answers

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  • Lesus
    Lv 7
    7 years ago
    Favorite Answer

    APR is annual percentage rate. It may be different from the interest rate if the interest is compound or variable.

  • Don G
    Lv 7
    7 years ago

    Interest rates are always quoted as APR, but if interest is calculated monthly, a rate of 12% APR will become 1% per month. If calculated quarterly, it would be 3% per quarter.

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