Q. A applicant accepts an offer of a 25 years fixed rate loan from a lender at an interst rate 6 5%for an amount of $150,000. The lender charges include a loan origination fee of $4500 and 2 discount...
The Annual Percentage Rate (APR) is the total amount of interest you would pay (or receive) in a year.
Using the standardised terminology 'APR' makes it easier to compare competing rates offered by...