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LSDefine

Simple English definitions for legal terms

APR

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A quick definition of APR:

APR: APR stands for Annual Percentage Rate. It is a yearly rate that shows how much it costs to borrow money or earn interest on an investment. This rate includes the interest charged and any other fees associated with the loan or investment. To calculate APR, you multiply the interest rate by the number of payment periods in a year. Basically, APR tells you how much you will pay for borrowing money or how much you will earn on an investment each year.

A more thorough explanation:

An annual percentage rate (APR) is the yearly cost of borrowing money or earning interest on an investment. It includes the interest rate and any other fees associated with the transaction. APR is expressed as a percentage and is calculated by multiplying the interest rate per payment period by the number of payment periods in a year.

If you borrow $1,000 at an interest rate of 10% per year, the APR would be 10%. However, if there are additional fees associated with the loan, such as an origination fee of $50, the APR would be slightly higher than 10%.

Another example would be if you invest $1,000 in a savings account that earns 5% interest per year. The APR would be 5%, but if there are any fees associated with the account, such as a monthly maintenance fee of $5, the APR would be slightly lower than 5%.

These examples illustrate how APR takes into account not only the interest rate, but also any additional fees associated with the transaction. It provides a more accurate representation of the true cost of borrowing or earning interest.

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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