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The Annual Percentage Rate: the real cost of credit
The other conspicuous disclosure on every Truth-in-Lending disclosure form is the Annual Percentage Rate, or APR. Expressed as a percentage (%), the APR is defined as “the cost of your credit as a yearly rate.” Behind this seemingly simple definition … Continue reading
Posted in Consumer Education
Tagged APR, RAL, Refund Anticipation Loan, TILA
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