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MRT 2 · Understanding Annual Percentage Rate
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Understanding Annual Percentage Rate

What APR includes (interest + mandatory charges), and that it is for comparison purposes.

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Key points

Question 3

Which term matches: "standardised measure of the total cost of credit, expressed as an annual percentage"

Question 4

What does "Includes" mean?

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What the exam tests

What APR includes (interest + mandatory charges), and that it is for comparison purposes.

Question 6

True or false?

What APR includes (interest + mandatory charges), and that it is for comparison purposes