MLchartDataset catalogue

Annual percentage rate

Term · Law · MLC-T-LAW-000513

The yearly rate charged for borrowing money or earned by an investment, expressed as a single percentage that represents the actual yearly cost of funds over the term of a loan. It includes any fees or additional costs associated with the transaction, beyond the nominal interest rate. The Truth in Lending Act requires lenders to disclose the annual percentage rate (APR) to consumers.

Table 1. Record
IdentifierMLC-T-LAW-000513
FieldLaw
AbbreviationAPR
Record as JSON 
{
  "id": "MLC-T-LAW-000513",
  "term": "Annual percentage rate",
  "field": "Law",
  "definition": "The yearly rate charged for borrowing money or earned by an investment, expressed as a single percentage that represents the actual yearly cost of funds over the term of a loan. It includes any fees or additional costs associated with the transaction, beyond the nominal interest rate. The Truth in Lending Act requires lenders to disclose the annual percentage rate (APR) to consumers.",
  "abbreviation": "APR",
  "url": "https://mlchart.com/terminology/law/annual-percentage-rate/"
}

Record 291 of 5,439 in Law terminology (MLC-0107). Request the full dataset.