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Simple English definitions for legal terms

annual percentage rate (APR)

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A quick definition of annual percentage rate (APR):

Annual percentage rate (APR) is a number that tells you how much it will cost you to borrow money for a year. It includes the interest rate and any other fees you have to pay. APR is important because it helps you compare different loans and decide which one is the best for you. Think of it like a price tag on a loan - the higher the APR, the more expensive the loan will be.

A more thorough explanation:

An Annual Percentage Rate (APR) is the yearly cost of borrowing money or earning interest on an investment. It is expressed as a percentage and includes the interest rate and other fees associated with the transaction.

For example, if you borrow $1,000 with an APR of 10%, you will pay $100 in interest and fees over the course of a year. The APR takes into account the interest rate and any other charges, such as origination fees or closing costs, to give you a more accurate picture of the total cost of borrowing.

Another example is if you invest $1,000 in a savings account with an APR of 2%, you will earn $20 in interest over the course of a year. The APR helps you compare different investment options and choose the one that will give you the highest return.

Overall, the APR is an important factor to consider when borrowing or investing money because it gives you a clear understanding of the total cost or return over the course of a year.

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Dkk
9:00
@renard99: also, the same band that does a song in the anime Eureka 7 which I watched when I was like idk, 12
9:00
Yeah! They are pretty good. Three Out Change is an awesome J-rock record
Dkk
9:01
I will probably not listen to them more but fun fact. Really random to start the day. An omen that the waves will be very random today.
Dkk
9:03
Fuck, reading the wikipedia now. Literal last song they did before they broke up was Storywriter. Wow.
9:05
That one is a masterpiece
9:05
My favorite song by them is Recreation
glovediedthisishismom
9:05
snowing
Dkk
9:07
@renard99: man, hard to find.
Dkk
9:07
@glovediedthisishismom: Congrats on the snow.
Dkk
9:16
@renard99: Poetic and nice.
9:42
My name is renard99 and I just sent @babycat feet pics
glovediedthisishismom
9:42
nobody is at the office today they should let little glovey go home and watch harry potter
Dkk
9:49
Lmfao, Gross
Dkk
9:49
@glovediedthisishismom: Watch it at the office!
Dkk
9:50
Proton vpn and https://en.solarmovie-official.lol/
let little glovey go home!
babycat
9:55
it’s true he sent me feet pics (unsolicited!)
babycat
9:56
poor little glovey
babycat
9:56
it’s illegal to make you work on a snow day
BulbasaurNoLikeCardio
9:57
Free feet pics sounds like you saved some money
snow
9:59
wish it was snowing in texas rn
Dkk
9:59
Man, hate this conversation cus it just reminds me of the gay guy that used to always ask me for them.
BulbasaurNoLikeCardio
9:59
That cold snap that hit texas is heaven though, opening windows in the house and using the fireplace
snow
10:00
it really is bulb. it was hot as hell for the longest time
BulbasaurNoLikeCardio
10:00
@Dkk: You could of made so much money
that sounds heavenly
babycat
10:00
Aw Dkk has trauma from the gay guy who wanted to fuck his arches
snow
10:00
lmaooooo
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