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Tagged with amortization apr
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If APY factors compounding (while APR doesn't), shouldn't APY always be higher than APR?
So, from what I understand:
APR: rate advertised to borrowers (without compounding)
APY: rate advertised to lenders (with compounding)
So, for a loan with APR of 6%, that compounds monthly:
APY = (...
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How to calculate APR for a fixed rate loan due before amortization end date?
I need help with the following question for a homework assignment related to finding the APR for an investment class. Here's the question:
Calculate the APR for a $500000 fixed rate loan amortized ...
