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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