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What does an APR of 14.2% mean?

What does an APR of 14.2% mean?
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5 votes
What does an APR of 14.2% mean?

asked
User Patrycja K
by
7.7k points

2 Answers

4 votes

Answer:

Each year, a person must pay off 14.2% of a loan.

answered
User Domus
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7.2k points
7 votes
Apr is the annual percentage rate so it’s asking what is the annual percentage rate of 14.2%
answered
User Scott Koland
by
8.4k points
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