What is APR?
- November 20, 2017
What is APR? “APR” stands for annual percentage rate. It lets the borrower know the actual cost of a loan. The annual percentage rate considers all the finance charges executed by a bank so that borrowers can compare which rate is a better rate for them. Every lender must inform a borrower what the APR of the transaction is and then a borrower can compare it from one lender to the other. The lower it is, the better and cheaper rate.
If you have questions about how bail works or need an attorney, Stenger, Glass, Hagstrom, Lindars & Iuele LLP today. We have two convenient Dutchess County, NY office locations in Poughkeepsie, NY and Wappingers Falls, NY.