Reading:  

Math Definitions - Letter A


Chapters

Definition of Annual Percentage Rate

Definition of Annual Percentage Rate

 

Definition of Annual Percentage Rate | SubjectCoach

The annual percentage rate is the percentage cost of borrowing money each year. It includes fees, interest, and other charges.

For example, if you pay \(\$300\) interest on a loan of \(\$10,000\), together with a \(\$200\) account fee, then it costs you a total of \(\$500\) to finance your loan each year. This corresponds to an annual percentage rate of \(5\%\).

Another name for the annual percentage rate is the comparison rate.

Description

The aim of this dictionary is to provide definitions to common mathematical terms. Students learn a new math skill every week at school, sometimes just before they start a new skill, if they want to look at what a specific term means, this is where this dictionary will become handy and a go-to guide for a student.



Prerequisites

None

Audience

Year 1 to Year 12 students

Learning Objectives

Learn common math terms starting with letter A

Author: Subject Coach
Added on: 4th Dec 2017

You must be logged in as Student to ask a Question.

None just yet!