Annual Percentage Rates

Posted by: admin 8 years, 10 months ago

(Comments)

If you are planning to carry a large balance on your credit card, then you should choose Low APR. Why does it so? Because APR, acronym from Annual Percentage rate will give you guidance on how much the interest you have to pay as an additional charge from your loan.

Longer explanation:

Interested to know more about this answer, let's take a look at our Brainly explanation below.

First, what is APR, APR is the acronym from Annual Percentage Rates. It's an entity from the credit that comes from your credit card. The formula of APR is listed below.

Example in Calculation:

To give a clear view and explanation of what is APR, please take a look at data below. For example, Bob bought a new Macbook pro, that cost him 2500 USD in June 2017. He bought it by his credit card and he need to pay monthly the bill of credit card within 10 months. In middle of 2018, when he finished paid all the bill of his Macbook pro, he realize he paid 150 dollar of the interest. So the calculation of APR from his credit card is.

1. The cost of the product that you pay

             The interest of the payment is 150 dollar.

2. Sum the number and divide by the loan amount

             The percentage 150 dollar divided by 2500 dollar. It gives 0.06

3. Divide them by the day terms of the loan

             The term of the loan is 10 months or 300 days. So It gives 0.06 / 300 = 0.0002

4. Multiply the result to 365 days

              Follow it with 0.002 x 365 = 0.073

5. Multiply by 100 to get the amount in percentage

              It gives 7.3

So the APR is 7.3 %

Below is also some of the reasons why you should not pick the other choice or feature.

Why the other choices are not relevant:

B-Low balance transfer fee

Usually, people not using cash in regards to credit card usage. Why does it so, because credit card will give you extra charge to withdraw some money. It also applies to transfer fee, most of the bank provides a free transfer from one account to another account. Therefore low balance transfer is not aligned as the choice to pick a credit card.

C-Lots of credit card rewards

Credit card rewards are a gamification way of the credit card issuer and do you know that in the world only 10% of customers that are using it. It applies to the reward in another service, such as miles award and so on.

D-A large credit limit

The credit limit is entirely the right of the credit card issuer in deciding on how much the credit card should be issued. You can not just pick up the large credit limit without any approval from the institution that approves your credit limit.

annual percentage rates
annual percentage rate on mortgage
annual percentage rate definition
annual percentage rate on credit card
annual percentage rate wells fargo
how do annual percentage rates work
annual percentage rate in spanish
annual percentage rate bank of america
annual percentage growth rate
annual percentage rate table
annual percentage rate is equivalent to
annual percentage rate determines
annual percentage rate loan
annual percentage rate definition credit card
annual percentage rate equation
annual percentage rate wikipedia
how annual percentage rate works
annual percentage rate is
annual percentage rate excel
annual percentage rate disclosure
annual percentage rate example problems
annual percentage rate of charge
annual percentage rate of return
annual percentage rate of return formula
annual percentage rate table per $100
annual percentage rates (aprs) are computed using
how do annual percentage rates affect you
a annual percentage rates
annual percentage growth rate excel
annual percentage growth rate of gdp
annual percentage growth rate of population
annual percentage rate 401k
annual percentage rate 47.8
annual percentage rate bank loans
annual percentage rate banking definition
annual percentage rate banks
annual percentage rate benefits
annual percentage rate business dictionary
annual percentage rate definition quizlet
annual percentage rate discover
annual percentage rate ear
annual percentage rate en espanol
annual percentage rate everfi
annual percentage rate example sentence
annual percentage rate for balance transfers
annual percentage rate good credit
annual percentage rate growth calculator
annual percentage rate in excel
annual percentage rate in french
annual percentage rate in german
annual percentage rate in ghana
annual percentage rate in hindi
annual percentage rate increase calculator
annual percentage rate investment calculator
annual percentage rate investopedia
annual percentage rate is equivalent to quizlet
annual percentage rate la gi
annual percentage rate language
annual percentage rate lawsuit
annual percentage rate lease
annual percentage rate loan agreement
annual percentage rate loan calculator
annual percentage rate loan term
annual percentage rate long term
annual percentage rate may be described as which of the following
annual percentage rate of 4.4
annual percentage rate of 4.99
annual percentage rate of return calculator
annual percentage rate of term charges
annual percentage rate on car loans
annual percentage rate on cd
annual percentage rate on savings account
annual percentage rate table calculator
annual percentage rate term
annual percentage rate to daily
annual percentage rate to monthly
annual percentage rate to weekly
annual percentage rate today
annual percentage rate tolerance
annual percentage rate translated in spanish
annual percentage rate us bank
annual percentage rate what does it do
annual percentage rate what is it
annual percentage rate with excel
annual percentage rate with points
annual percentage rate worksheet
annual percentage rates are computed using
annual percentage rates business definition
annual percentage rates calculator
annual percentage rates can be converted to effective annual rates
annual percentage rates credit card
annual percentage rates def
annual percentage rates define
annual percentage rates definition economics
annual percentage rates definition in business
annual percentage rates economics definition
annual percentage rates example
annual percentage rates explained
annual percentage rates financial definition
annual percentage rates home loan
annual percentage rates how do they work
annual percentage rates how to calculate
annual percentage rates means
annual percentage rates mortgage
annual percentage rates personal loan
annual percentage rates real estate definition
annual percentage rates that make a mortgage qualified
annual percentage rates vs effective annual rates
annual percentage rates vs interest
annual percentage rates vs rate
annual percentage rates what does it mean
annual percentage yield interest rates
calculation for annual percentage rates
compare annual percentage rates
consumer annual percentage rates
credit annual percentage rates
define annual percentage rates in finance
does annual percentage rates work
find annual percentage rates
fixed rate annual percentage rates
formula of annual percentage rates
how are annual percentage rates calculated
how do annual percentage rates work on credit cards
how does annual percentage rates
how to do annual percentage rates
how to figure annual percentage rates
how to figure annual percentage rates of installment loans
how to find annual percentage rates
interest rate and annual percentage rates
lesson 4.6 annual percentage rates answers
mortgage loan annual percentage rates
net annual percentage growth rate apes
penalty annual percentage rates
understand annual percentage rates
variable annual percentage rates
vehicle annual percentage rates
what does annual percentage rates mean
yield annual percentage rates

• ← Negara negara monarki kerajaan di seluruh dunia
• Daftar Nama Domain Negara di Dunia →