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The Meaning of APR – What Borrowing Really Costs You!

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The Meaning of APR – What Borrowing Really Costs You!

Ever see “APR” on a loan or credit card statement and wonder what it really means? APR stands for Annual Percentage Rate, the true yearly cost of borrowing money — interest and fees included. Example: A 12% APR means $12 yearly on every $100 borrowed. Learn more “adulting words” that make money and life easier — follow for daily shorts!

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