Economics/Business
posted by Jackie .
When buying a new house, is APR the same thing as annual interest rate?

APR means the annual percentage rate. Your mortgage payments are based on the APR  such as 5.5% interest on your mortgage.
Respond to this Question
Similar Questions

economics
Jerry is considering buying today a new bond which makes infinite annual payments. In particular the bond pays its holder 557.3 dollars one year from the day of purchase and the annual payment increases by 129.32 dollars each year … 
eco
Suppose a person pays $80 of annual interest on a loan that has a 5 percent annual interest rate. The loan amount is: A. $400. B. $1,600. C. $160. D. $85. 10. Suppose a loan customer is considering two alternative $22,000 loans. Loan … 
economics
Picabo borrows $1,000. To repay the amount she makes 12 equal monthly payments of $90.30. Determine the following: (a) The effective monthly interest rate (b) The nominal annual interest rate (c) The effective annual interest rate 
economics
Suppose Caroline is a cinephile and buys only movie tickets. Caroline deposits $3000 in a bank acct that pays an annual interest rate of 20%. You can assume that this interest rate is fixedthat is, it wonâ€™t change over time. At … 
Math
Interest is a concept familiar to most people: every credit card in existence has a term called annual percentage rate (APR), which is an interest rate. Suppose you charged $1,000 to a credit card that has a minimum payment each month … 
Finance
Could someone tell me how to calculate this in excel? 
Math
Interest is a concept familiar to most people: every credit card in existence has a term called annual percentage rate (APR), which is an interest rate. Suppose you charged $1,000 to a credit card that has a minimum payment each month … 
Essex
An investment club placed $33,000 into two simple interest accounts. On one account, the annual simple interest rate is 6.5%. On the other, the annual simple interest rate is 4.5%. How much should be invested in each account so that … 
simple interest
A total of $12,000 is invested into two simple interest accounts. On one account the annual simple interest rate is 12%, while on the second account the annual interest rate is 18%. How much should be invested at 12% so that the interest … 
math
An investment club placed $36,000 into two simple interest accounts. On one account, the annual simple interest rate is 8.5%. On the other, the annual simple interest rate is 3.5%. How much should be invested in each account so that …