Understanding APR: Your Real Cost of Borrowing Explained

In this video, we simplify the concept of APR (Annual Percentage Rate) and its significance when borrowing money. Whether it's called APR, per annum, or annual percentage rate, they all refer to the same thing. Discover how APR represents the percentage you are charged on the debt you incur, typically against the principal balance. We break down scenarios where you may have limited access to the principal balance but still pay interest on the entire amount. Gain insights into how APR accurately reflects your cost of capital and why it matters when considering loans. Full video is on our YouTube Channel!

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