What is Annual Percentage Rate (Apr)?
A measure of the cost of credit, expressed as a yearly rate. It includes interest as well as other charges. The rules apply to all lenders by federal law so that the APR provides consumers with a good basis for comparing the cost of loans, including mortgage plans.
Further Reading
For more detailed information, see our related Real Property terms:
Pass the Bar, Guaranteed
BarPrepHero Premium offers the most complete collection of real bar exam questions licensed directly from NCBE (the organization that writes the exam).