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You are going home one night when you drive through a sobriety checkpoint. The policeman asks you to get out of the car, holds one finger up in front of your face, and asks you to follow his finger with your eyes only. What is he doing?
Periodic Rate
The interest rate for a specific period of time, often related to credit cards or loans, which can be monthly, quarterly, etc.
APR
Annual Percentage Rate, a measure of the cost of credit, expressing the yearly interest rate.
Total Interest
The total amount paid or earned over the life of a financial product, such as a loan or an investment, in addition to the principal.
APR
Annual Percentage Rate, a measure used to calculate the cost of borrowing or the yield from an investment, taking into account interest rates, fees, and loan terms.
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