The annual percentage rate (APR)on credit is the simple interest rate after including any fees (such as an application processing fee)imposed by the creditor.

Name: The annual percentage rate (APR)on credit is the simple interest rate after including any fees (such as an application processing fee)imposed by the creditor.
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Question

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The APR includes the interest rate plus any additional fees or costs associated with the loan, providing a more comprehensive view of the cost of borrowing.

The Annual Percentage Rate (APR)on Credit Is the Simple Interest