What is the Difference Between APR and Interest Rate on a Personal Loan?

What is the Difference Between APR and Interest Rate on a Personal Loan?

The Annual Percentage Rate (APR) is the cost of credit expressed as a yearly rate. The interest rate is the percentage charged for the use of money, typically given as a percentage of the principal. Checkout this video: APR The main difference between APR and interest rate is that the APR includes additional costs, while…

How Does a Loan Work?

How Does a Loan Work?

If you’re considering taking out a loan , you’re probably wondering how they work. In this blog post, we’ll explain how loans work, what you need to qualify, and some of the pros and cons to help you make a decision. Loan Work?’ style=”display:none”>Checkout this video: Introduction A loan is a type of borrowing in…