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1:01
YouTube
The Finance Toolbox
APR Explained in 60 Seconds!
Ever wondered what APR really means? 🤔 Let's break it down with a simple example in just 60 seconds! APR stands for Annual Percentage Rate. It's the cost of borrowing money, expressed as a yearly interest rate. 📅💰 Imagine you have a credit card with a 20% APR. If you spend £1,000 and don't pay it off within the month, you'll owe an ...
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7 months ago
APR Explained
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APR vs. APY: Know the difference! Annual Percentage Rate (APR) shows the cost of borrowing, including fees, while Annual Percentage Yield (APY) shows the interest earned on savings, including compounding. Both are crucial for making informed financial decisions. To learn more, visit https://bit.ly/3LA4ydC. | KeyBank
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