The cost to borrow money. It is the yearly generated by the interest charged on the amount loaned.
APR is absent any compounding effects.
The formula is simply to divide the sum total of the interest by the amount of the loan or investment.
The cost to borrow money. It is the yearly generated by the interest charged on the amount loaned.
APR is absent any compounding effects.
The formula is simply to divide the sum total of the interest by the amount of the loan or investment.