Guide to the Calculation of Annual Percentage of Rate

What is the annual percentage of rate (APR)?

It is the discount rate at which the current value of all installments and other payments owed by the beneficiary, and representing the total amount owed by the beneficiary, is equal to the current value of the payments of finance available to the beneficiary on the date on which the finance amount or the first payment thereof is available to the beneficiary.

This is only an example, and the calculation method may change according to the client’s credit history.