3-Minute Explanation
3-Minute Explanation
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Annual Percentage Rate APR Explained - Speed Reading 350WPM
Understanding Annual Percentage Rate (APR)
Imagine you want to buy a cool new game, but you don’t have enough money saved up. You ask your parents if they can lend you some money to buy it. They say yes, but they tell you that you’ll need to pay them back more than you borrowed. This extra money is called “interest,” and it’s how your parents earn a bit of money for letting you use theirs. To understand how much extra you’ll pay, you need to know the Annual Percentage Rate, or APR. APR is a percentage that tells you how much more you will end up paying on a loan over the course of a year. It includes not just the interest, but also any other fees that might be part of the loan.
Let’s break it down with an example. Suppose you borrow $100 from your parents to buy the game. At the end of the year, you need to pay them back $110. The extra $10 is the interest. To figure out the APR, you see that for every $100 you borrow, you’re paying $10 in interest. In this case, the APR is 10%. This percentage helps you understand how much extra money you’ll need to pay back compared to what you originally borrowed. If the APR is higher, like 15%, it means that for every $100 you borrow, you’ll pay $15 in total. This makes it clear how expensive borrowing money can be, because APR combines the interest and any extra fees into one simple percentage.
When comparing different loan offers or credit cards, APR is very helpful. For instance, if you’re looking at two different loans and one has an APR of 5% and another has an APR of 12%, the loan with the 5% APR is cheaper because you’ll end up paying less extra money. This is important because it helps you choose the best option for borrowing money. By looking at the APR, you can easily see which loan or credit card will cost you less over time. It’s a tool that makes it easier to understand the true cost of borrowing and helps you make better financial decisions.
มุมมอง: 72

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ความคิดเห็น

  • @bb_lz9790
    @bb_lz9790 2 วันที่ผ่านมา

    The Diderot Effect is powerful!!! After we bought our first home (in a new subdivision), I would marvel when families would move in and suddenly buy two new cars to go along with it (and probably a home full of new furniture too).

  • @420rogerz
    @420rogerz 2 วันที่ผ่านมา

    The large fangs would require more bite force. There is no way they were used for biting or eating.

  • @IlikGamingKZ
    @IlikGamingKZ 7 วันที่ผ่านมา

    Thanks

  • @vff6758
    @vff6758 7 วันที่ผ่านมา

    I have a question :- Are tyre inner tubes aspect is usually lesser than the tyres of a car ?? I have 145/ 80 R12 tyres But i bought a inner tube of 145/ 70 R12 soo is this okay or i purchased the wrong tube ??

  • @CreamSoda5
    @CreamSoda5 10 วันที่ผ่านมา

    I love learning information and studying quickly instead of watching an hour long lecture!

  • @track0123456789
    @track0123456789 12 วันที่ผ่านมา

    Very bad background sound.

  • @ianmould2063
    @ianmould2063 12 วันที่ผ่านมา

    great idea, throw in some absurd mickey mouse music

  • @reem23652
    @reem23652 14 วันที่ผ่านมา

    thaks for these intresting and important information ❤❤

  • @Xxnico_55
    @Xxnico_55 15 วันที่ผ่านมา

    When a new video

  • @moco360
    @moco360 15 วันที่ผ่านมา

    i would ask a question...if the video is 100% mine but i add music from a subscription that i paif for....should i use CC or standard TH-cam License....I know that by use CC i give permission for other to use my video. just in my side..using my video and adding subscription music to be considered as original or not that i can not use CC

  • @bdhdndnr5623
    @bdhdndnr5623 16 วันที่ผ่านมา

    Thanks🙏🙏

  • @oddviews
    @oddviews 16 วันที่ผ่านมา

    I am watching this two years after it was uploaded and the music is still there - inappropriately. So I am not going to forward it to the person that might otherwise have been interested in it.

  • @scottmasson3336
    @scottmasson3336 17 วันที่ผ่านมา

    Capsaicin is used in heat creams, gels and sprays.

  • @frederikanazonian840
    @frederikanazonian840 20 วันที่ผ่านมา

    Most s.t.u.p.i.d nonsense video ever saw 🤣🤣🤣 sacrifice my ass u can draw it as it is

  • @roastchicken401
    @roastchicken401 21 วันที่ผ่านมา

    I have heard a theory that saber tooths would sort of place their fangs on the surface they want to pierce, then sort of use their super strong forearms to push their teeth into the flesh of their prey. This would only work on soft flesh though. There's also skulls of saber tooths that have a hole in the skull, pierced by another saber tooth. I don't think a fang could be just casually forced in, there had to be some sort of impact.... The only way I think that could happen is if a Saber tooth were to slam its fangs into the skull like a person hammering a pickaxe into stone. Rearing its head back and then hammering its fangs into the victim

  • @jovar7545
    @jovar7545 21 วันที่ผ่านมา

    The music is such a turn off

  • @DJLucas-xv7oe
    @DJLucas-xv7oe 24 วันที่ผ่านมา

    Whales are more closely related to sharks than sharks are to lamprey, and closer to eels, and even closer to coelacanths. And if all of those animals are fish, so are whales. And humans too.

  • @SocialistDistancing
    @SocialistDistancing 25 วันที่ผ่านมา

    That depends on the incident. Dropping the temperature of a room with cold water can greatly reduce the condition for flashover , and allow firefighters to start going deeper into a room as the heat has been greatly diminished. As heat is one of the pieces fire needs to continue burning, taking that element away will do a lot more than hot water would.

  • @andrew3276
    @andrew3276 25 วันที่ผ่านมา

    Gotta stop using the AI voice I bet this was a great video but I couldn’t make it through 15 seconds of it

  • @Alex-dn9ct
    @Alex-dn9ct 27 วันที่ผ่านมา

    The music is unnecessary and really annoying.

  • @thaboedward4062
    @thaboedward4062 หลายเดือนก่อน

    Learning every minute 🙏🇿🇦🇿🇦✌️

  • @alexalekos
    @alexalekos หลายเดือนก่อน

    why is this channel so underrated?

  • @andzejkozak7297
    @andzejkozak7297 หลายเดือนก่อน

    The hottest chilli is Pepper X

  • @cansuozdemir8385
    @cansuozdemir8385 หลายเดือนก่อน

    thank you for this video, however the music was too loud and distracting, i hope you take this under consideration for your other videos :)

  • @g.c415
    @g.c415 หลายเดือนก่อน

    the music is too annoying. please remove it

  • @Dumbpuppet101
    @Dumbpuppet101 หลายเดือนก่อน

    Hey this is great, thanks!!

  • @LeoK-m6x
    @LeoK-m6x หลายเดือนก่อน

    why we have to use energy to maintain the rotation in vacuum environment?😢especially when who part of the spacecraft is rotating

  • @ZitaZone
    @ZitaZone หลายเดือนก่อน

    Did not just tell us what one we could use to monetize and make money

    • @ductoannguyen7595
      @ductoannguyen7595 หลายเดือนก่อน

      Anything that’s CC-licensed without NC is rated approved for monetization.

  • @markanthonymarla
    @markanthonymarla หลายเดือนก่อน

    I WANT TO FIND CLEOPATRAS TOMB I BELIEVE HER TOMB IS UNDERWATER .......

  • @connorhormann
    @connorhormann หลายเดือนก่อน

    but the probability of 22 people sharing the same birthday as me isnt 22/365, so how are we thinking about it wrong

    • @Kerplakistandan
      @Kerplakistandan 29 วันที่ผ่านมา

      It's not the probability that they share a birthday with YOU. It's the probability that any two of the 23 people share a birthday.

  • @alien6295
    @alien6295 หลายเดือนก่อน

    Please post without the music

  • @alexmss1791
    @alexmss1791 หลายเดือนก่อน

    Do it again without music, please!

  • @jameselliott9397
    @jameselliott9397 หลายเดือนก่อน

    well thats great, where does it show the license level?

  • @OlveraReames
    @OlveraReames หลายเดือนก่อน

    Thanks for the breakdown! 🤔 I have a quick question: 🤷‍♂️ I have a set of words 🤷‍♂️. (behave today finger ski upon boy assault summer exhaust beauty stereo over). I don't know what they are. What should I do with them? 🤷‍♀️

  • @TracyHowar-z5d
    @TracyHowar-z5d หลายเดือนก่อน

    Dare Forest

  • @Johnfranorge
    @Johnfranorge หลายเดือนก่อน

    automatic weigh more

  • @AbeNigel-m1j
    @AbeNigel-m1j หลายเดือนก่อน

    Ally Circles

  • @abgzulkifli
    @abgzulkifli หลายเดือนก่อน

    No one can claimed it

  • @ClaudeAsh-l6u
    @ClaudeAsh-l6u หลายเดือนก่อน

    Kelvin Cliffs

  • @yusupovjasur
    @yusupovjasur 2 หลายเดือนก่อน

    Bruv u speaking too much, lemme enjoy the music, goddamn

  • @umarsayyam4840
    @umarsayyam4840 2 หลายเดือนก่อน

    why music ??????

  • @Derpyman2
    @Derpyman2 2 หลายเดือนก่อน

    The different tastes happen because of the material you are drinking from If its plastic it's okay If its an aluminium can it tastes a tad bit better If its glass it will taste the best because since its a glass and glass is natural it will give out the most flavour, its not the coke changing, its the same, the only difference is your taste buds touching the material which affects the taste

  • @ThailandRepublicball2378
    @ThailandRepublicball2378 2 หลายเดือนก่อน

    The answer is technically both

  • @BdStayForever
    @BdStayForever 2 หลายเดือนก่อน

    I have Octophobia and the fact is my birthday is on Eighth August💀

  • @wesselvleut5640
    @wesselvleut5640 2 หลายเดือนก่อน

    wat een kanker muziek

  • @deepkachariya7925
    @deepkachariya7925 2 หลายเดือนก่อน

    Great Explanation.

  • @vincentv.9729
    @vincentv.9729 2 หลายเดือนก่อน

    The premises of the problem is wrong. 50,7% is the probability that AT LEAST two people share the same birthday in a group of 23 and not ANY TWO people. The probability that ANY TWO persons share the same birthday in a group of 23 (i.e all the others 21 persons have different and unique birthday dates) is 34,25 %. (23 x 22 x 365 x (364! / 343!)) / 365^23 = 0,3425

  • @juliephillips1126
    @juliephillips1126 2 หลายเดือนก่อน

    Jacks fly at sea. Flags on land.

  • @NakulAhuja
    @NakulAhuja 3 หลายเดือนก่อน

    how to get these license ?

  • @wassollderscheiss33
    @wassollderscheiss33 3 หลายเดือนก่อน

    Is this a dumbed down woke version of the phenomenon? Why do some people just HAVE to do that?! Kill the meaning for being woke! Village Venus Effect is when a local maximum just isn't the global maximum or a broader base yields higher random values. It has NOTHING to do with diversity. Actually the Village venus Effect HAS to be agnostic of diversity to make sense.