For example, if the loan amount is 10,000 and the interest rate is 8%, what is the apr and how do you calculate it?|||APR is the effective interest rate taking into account fees, loan discounts and loan premiums.|||APR is a legal term the govt created to make it hard for companies to play shennanigans with what they call their interest rates.
With reputable companies, they are close to the same thing.|||APR includes the fees, which you haven't disclosed.
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