JennaR8r@lemmy.dbzer0.com to Personal Finance@lemmy.mlEnglish · 2 months agoWhat's the difference between an APR and interest rate?message-squaremessage-square5linkfedilinkarrow-up11arrow-down10
arrow-up11arrow-down1message-squareWhat's the difference between an APR and interest rate?JennaR8r@lemmy.dbzer0.com to Personal Finance@lemmy.mlEnglish · 2 months agomessage-square5linkfedilink
minus-squareslazer2au@lemmy.worldlinkfedilinkEnglisharrow-up0·2 months agoInterest rate is the amount a lender adds to your loan. APR is the interest rate + any fees associated with the loan.
minus-squarepartial_accumen@lemmy.worldlinkfedilinkEnglisharrow-up0·2 months agoAPR, is referring to only interest. It has nothing to do with other fees.
minus-squareslazer2au@lemmy.worldlinkfedilinkEnglisharrow-up0·2 months agoThen I have read a bad article.
minus-squarepartial_accumen@lemmy.worldlinkfedilinkEnglisharrow-up0·2 months agoNo worries, its certainly happened to me too on other topics. Thank you for your edit to your post to make sure others don’t come away with the wrong information.
Interest rate is the amount a lender adds to your loan.
APR is the interest rate + any fees associated with the loan.
APR, is referring to only interest. It has nothing to do with other fees.
Then I have read a bad article.
No worries, its certainly happened to me too on other topics. Thank you for your edit to your post to make sure others don’t come away with the wrong information.