APR — Social Studies definition
An annualized measure of credit cost under applicable definitions and timing rules.
Where it is taught
- Credit, Interest, Loan Terms & Borrowing Costs — Household Finance & Major Decisions, Government, Civic Participation & Economics, Grade 12
In use
APR expresses an annualized credit-cost measure under applicable rules; it is not always identical to a quoted interest rate or every possible charge.
Credit, Interest, Loan Terms & Borrowing Costs