Cryptocurrency Q&A
What does 5% APR mean?
What does 5% APR mean?
KimchiQueen
Mon Nov 18 2024
|
7 answers
1279
I keep seeing this term APR, especially when looking at loans and credit cards. Now, I came across a 5% APR rate and I'm wondering what it actually signifies in terms of cost and interest.
7 answers
Carolina
Wed Nov 20 2024
BTCC, a top cryptocurrency exchange, offers a range of services including spot, futures, and wallet options.
Was this helpful?
67
55
BonsaiVitality
Wed Nov 20 2024
For borrowers, APR reflects the true cost of borrowing money, including any fees or additional costs associated with the loan.
Was this helpful?
156
91
CryptoGladiator
Wed Nov 20 2024
On the other hand, for investors, APR shows the annual yield on an investment, taking into account any applicable fees or expenses.
Was this helpful?
363
62
CryptoWizardry
Wed Nov 20 2024
APR is expressed as a percentage and is often used to compare different loan or investment options.
Was this helpful?
378
23
Margherita
Wed Nov 20 2024
The Annual Percentage Rate (APR) is a financial metric used to represent the yearly interest rate on a loan or investment.
Was this helpful?
141
25
Load 5 more related questions
