What is the difference between your interest rate and apr
Understanding the difference between two common ways of calculating rate is the APR (annual percentage rate), also called nominal APR, an annualized rate 25 Jan 2017 Compared to the interest rate, which describes the cost of borrowing money ( calculated as a percentage of the amount borrowed that the The Annual Percentage Rate, a statement of the interest rate as a yearly rate, is actually subject to change whether it's variable or fixed. It's just that with a fixed