Sentences with phrase «apr equals the interest»

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After the end of the promotional 0 % APR period, the interest for each billing cycle is equal to the periodic rate multiplied by your balance after payment.

On a 12 month 0 % APR introductory offer, this is equal to paying 3 % interest for one year — a rate you will likely find on a mortgage loan, not a student or personal loan.

For example, if the APR is 12 percent, and monthly payments are made, the monthly interest rate equals the APR of 12 percent divided by 12 months, or 1 percent.

For our student loans, accrued interest capitalizes at the start of the repayment period - since we do not charge fees, and assuming you make all your scheduled payments on time, the repayment period APR will be equal to the interest rate.

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The NPV of a loan under standard amortization equals the original loan balance when the discount rate is set to the APR of the loan interest rate.

3 PSECU Visa ® Founder's Card: When you take advantage of the 3.9 % APR (annual percentage rate) promotional offer, Visa ® Founder's Card balance transfers will be treated as a cash advance and will accrue interest at 3.9 % APR from the time that the transaction posts until 12/31/19; thereafter, any remaining balance will begin to accrue interest at the cash advance rate, which is a variable APR equal to the Prime Rate plus a margin of 9.15 %.

For example, a credit card company might charge 1 % interest each month; therefore, the APR would equal 12 % (1 % x 12 months = 12 %).

The APR would equal the interest rate if there were no additional costs to a given loan.

Having this intro APR for the first year could equal a lot of money saved on interest.