Annual percentage rate (APR) and effective APR
7:12
Khan AcademySal Khan
Annual percentage rate (APR) and effective APR
APR stands for Annual Percentage Rate. It's the yearly interest rate you pay on a loan or credit card. However, a credit card's advertised APR isn't the true interest rate because it compounds daily. Learn how to calculate the effective APR to find a card's true interest rate.
Feb 20, 2011
How to Lower APR
A lower APR can help you enjoy more flexibility on new purchases. See if your Discover® Card is eligible today. | Discover
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A lower APR can help you enjoy more flexibility on new purchases. See if your Discover® Card is eligible today. | Discover
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