The calculation of the APR should take into account both the points on the loan and the contract rate.

Name: The calculation of the APR should take into account both the points on the loan and the contract rate.
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Quizplus · Accepted Answer

The APR (Annual Percentage Rate) calculation considers both the points charged on a loan and the contract interest rate. The APR represents the total cost of borrowing, including all fees and charges, expressed as an annualized percentage of the loan amount.

The Calculation of the APR Should Take into Account Both