Understanding the Impact of APR vs. Interest Rate on Loan Costs
Introduction When it comes to borrowing money, whether for a mortgage, car loan, or credit card, understanding the cost of the loan is crucial. Many people often confuse the Annual Percentage Rate (APR) with the interest rate, thinking they’re the same thing. However, these two metrics play distinct roles in determining how much you’ll ultimately […]
Understanding the Impact of APR vs. Interest Rate on Loan Costs Read Post »