Please hurry! What a loan is, what interest is, and how the annual percentage rate (APR) measures the true cost of a loan.

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asked Nov 12, 2021 125k views

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PatL · Answer 1 · 2021-11-18T06:50:48+0000

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In finance, a loan is the lending of money by one or more individuals, organizations, or other entities to other individuals, organizations etc. The recipient incurs a debt and is usually liable to pay interest on that debt until it is repaid as well as to repay the principal amount borrowed.

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Please hurry! What a loan is, what interest is, and how the annual percentage rate (APR) measures the true cost of a loan.

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