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How Does APR Financing Work?

When you borrow money there is always cost associated with the loan. The cost is expressed in the form of an annual percentage rate, (APR). The higher your APR the more you pay in finance charges. The annual percentage rate you receive…

Difference Between APY & APR

Interest rates are sometimes reflected by APR (Annual Percentage Rate) and sometimes reflected by APY (Annual Percentage Yield). Knowing the difference between APR and APY will help you make better financial decisions. …

How to Convert a Rate to APY

In applications or advertisements for credit cards, you've most likely seen interest rates shown as the Annual Percentage Rate (APR) and Annual Percentage Yield (APY). The difference between the two rates is that APR doesn't take the…