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Interest Rate and
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APR vs Interest Rate by Chris Menard
The interest rate is the cost of borrowing the principal amount. The APR is the interest rate plus other costs or fees. APR measures the true cost of borrowing money. In this video we will look at mortgage loans and use Excel to calculate the monthly payment, using the PMT function, then add the other loan fees and use the RATE function in ...
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Interest rate vs APR- two important financial terms that often get confused! Make sure you understand the difference when it comes to borrowing money💰 ➡️The interest rate is the cost of borrowing money, expressed as a percentage of the amount borrowed. ➡️The APR, or annual percentage rate, is a measure of the cost of borrowing money that includes the interest rates As WELL AS any other fees or charges associated with the loan. For example, if you’re considering taking out a personal loan or a m
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