Credit 101: What is APR and why does it matter? ... APR stands for Annual Percentage Rate, which tells you how much it costs to borrow money for a year. It ...
You are correct that 1.257 = 125.7%, but here we are just trying to find the interest or the amount added to the principal. So we just look at the amount above ...
Annual Percentage Rate, or APR, is the cost of your mortgage credit as a yearly rate. Watch our video to learn about how APR can affect your mortgage ...