Sentences with phrase «actual effective interest rates»
Because of this, rates you see listed by CDCs are estimates of the actual effective interest rates, which are calculated by the CSA.
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During the specified period, the mortgagor's effective interest rate is «bought down» below the actual interest rate.
Actual APR (also known as annual equivalent rate, effective interest rate, or effective annual rate) may vary from quoted APR:
The effective rate includes actual tax benefits from the interest deduction.
To avoid consumer confusion regarding the actual interest rate they are receiving on an investment or being charged on a loan, the concept of an effective interest rate is used.
Also known as an annual percentage rate, or APR, the effective interest rate tells you the actual interest rate you are receiving or being charged on an annual basis.
But that is not the Effective Annual Rate (EAR), the actual interest rate you are being charRate (EAR), the actual interest rate you are being charrate you are being charged.
The annual percentage rate, usually shown next to the advertised and called «APR», or nominal, interest rate, is always higher than the actual, or effective, loan interest rate because it annualizes the fees and costs associated with the loan.
Keep in mind the APR is an effective interest rate, not the actual interest rate.