With regards to credit card payments, what is the full form of APR?
The Correct Answer is Annual Percentage Rate. With regards to credit card payments, Annual Percentage Rate is the full form of APR.
APR stands for annual percentage rate, and it simply refers to the amount of interest charged on a credit account. When it comes to credit cards, the annual percentage rate (APR) refers to the amount of interest charged to your account over the course of a billing cycle.
Question 1: With regards to credit card payments, what is the full form of APR?
Answer: Annual Percentage Rate
Question 2: Amount of credit used compared to the amount of credit available is measured by a term known as CUR. Expand CUR?
Answer: Credit utilization rate
Question 3: In 1946, John Biggins launched the _____ card. Purchases through this were forwarded to Biggins’ bank. Fill in the blanks?
Answer: Charg-It
Question 4: In 1966, a group of banks from which US state founded the Interbank Card Association that ultimately launched the Mastercard?
Answer: California
Question 5: Can you pay your credit card bill on Amazon?
Answer: Yes
What Is an Annual Percentage Rate (APR) and How Does It Work?
The annual percentage rate (APR) is the interest rate charged to borrowers and paid to investors on a yearly basis. APR is a percentage that represents the real annual cost of money for a loan or investment over the period of the loan. This includes any fees or additional costs incurred during the transaction, but it excludes compounding. The APR offers consumers with a single number that they can simply compare to other lenders’ rates.
https://www.investopedia.com/terms/a/apr.asp
- An annual percentage rate (APR) is the annual rate charged or earned on a loan or investment.
- Before any agreement is formed, financial institutions must disclose the APR of a financial instrument.
- Because lenders have the flexibility to pick which expenses are included in their rate calculation, consumers may find it difficult to compare APRs.
- Because of the costs that are included or deducted, an APR may not accurately reflect the real cost of borrowing.
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