Annual percentage rate
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Annual percentage rate (better known by its acronym, APR) is the nominal annual interest rate.
Definitions
According to Financial Management Theory and Practice by Eugene F. Brigham and Michael C. Ehrhardt (13th edition),
- APR. The nominal annual interest rate is also called the annual percentage rate.
Related concepts
- Financial management. A combination of enterprise efforts undertaken in order to procure and utilize monetary resources of the enterprise.
