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What is APR?

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millerja9 Joined: 19 Jun 2009 Posts: 100 0.00 Dollars($)	Posted: Tue Dec 15, 2009 11:02 am    Post subject: What is APR? Like 0 Dislike 0 Please explain what is APR and how it is calculated.
savior70 Joined: 25 Mar 2009 Posts: 1895 Location: Florida 261.84 Dollars($)	Posted: Wed Dec 16, 2009 7:02 am    Post subject: Like 0 Dislike 0 APR or the Annual Percentage Rate is the actual interest rate that a borrower pays over the life of the loan. It includes not just the interest rate on the loan, but also the mortgage insurance, the upfront points and all other fees that a borrower pays towards the mortgage. There is standard formula that lenders use for the calculation of APR.
cupplesjonathan71 Joined: 04 Nov 2009 Posts: 82 0.00 Dollars($)	Posted: Wed Dec 16, 2009 7:19 am    Post subject: Like 0 Dislike 0 APR is the one common denominator by which you can compare loans side by side

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