Nominal annual rate vs apr
17 Oct 2019 The effective rate is how much interest you will really owe or receive once compounding is considered. APR is the annual percentage rate: the 27 Nov 2016 Annual percentage rate, or APR, goes a step beyond simple interest by telling of APR, but we'll use the term to represent the nominal APR. The annual percentage rate (APR) that you are charged on a loan may not be the amount of interest you actually pay. The amount of interest you effectively pay