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The term annual percentage rate of charge (APR),〔http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=CELEX:51996AC1091:EN:HTML〕〔http://ec.europa.eu/consumers/rights/fin_serv_en.htm〕 corresponding sometimes to a nominal APR and sometimes to an effective APR (or EAPR),〔 describes the interest rate for a whole year (annualized), rather than just a monthly fee/rate, as applied on a loan, mortgage loan, credit card, etc. It is a finance charge expressed as an annual rate. Those terms have formal, legal definitions in some countries or legal jurisdictions, but in general:〔 : * The ''nominal APR'' is the simple-interest rate (for a year). : * The ''effective APR'' is the fee+compound interest rate (calculated across a year).〔 "Subject: Regulation AA", Alfred F. "Bob" Blair, Jr., US Federal Reserve, 2008-06-28, webpage: (US-Federal-Reserve-R1314 ). 〕 In some areas, the ''annual percentage rate'' (APR) is the simplified counterpart to the effective interest rate that the borrower will pay on a loan. In many countries and jurisdictions, lenders (such as banks) are required to disclose the "cost" of borrowing in some standardized way as a form of consumer protection. APR is intended to make it easier to compare lenders and loan options. ==Multiple definitions of effective APR== The nominal APR is calculated as: the rate, for a payment period, multiplied by the number of payment periods in a year.〔 However, the exact legal definition of "effective APR", or EAR, can vary greatly in each jurisdiction, depending on the type of fees included, such as participation fees, loan origination fees, monthly service charges, or late fees. The effective APR has been called the "mathematically-true" interest rate for each year.〔 "The Financial Literacy Crisis", April 2008, ''US News and World Report'', webpage: (USNews-Your-Money-101 ). 〕〔 "President's Advisory Council on Financial Literacy", January 2008, Rossputin.com, webpage: (Rossputin-FinLiteracy ). 〕 The computation for the effective APR, as the fee + compound interest rate, can also vary depending on whether the up-front fees, such as origination or participation fees, are added to the entire amount, or treated as a short-term loan due in the first payment. When start-up fees are paid as first payment(s), the balance due might accrue more interest, as being delayed by the extra payment period(s).〔 "Margill – Loans, Lines of credit, APR" (calculation types), Margill/Jurismedia inc., 2008, webpage: (Margill-en ). 〕 There are at least three ways of computing effective annual percentage rate: * by compounding the interest rate for each year, without considering fees; * origination fees are added to the balance due, and the total amount is treated as the basis for computing compound interest; * the origination fees are amortized as a short-term loan. This loan is due in the first payment(s), and the unpaid balance is amortized as a second long-term loan. The extra first payment(s) is dedicated to primarily paying origination fees and interest charges on that portion. For example, consider a $100 loan which must be repaid after one month, plus 5%, plus a $10 fee. If the fee is not considered, this loan has an effective APR of approximately 80% (1.0512 = 1.7959, which is approximately an 80% increase). If the $10 fee were considered, the monthly interest increases by 10% ($10/$100), and the effective APR becomes approximately 435% (1.1512 = 5.3503, which equals a 435% increase). Hence there are at least two possible "effective APRs": 80% and 435%. Laws vary as to whether fees must be included in APR calculations. 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Annual percentage rate」の詳細全文を読む スポンサード リンク
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