Updated onMay 31, 2023
Interest Rate vs. APR: What Are the Differences?
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4 Min Read
Difficulty:easy
Written by:Holly Johnson
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Resources
- Board of Governors of the Federal Reserve System, "Consumer Credit - G.19." Accessed May 5, 2023.
- Bank of America, "APR vs. Interest Rate." Accessed May 5, 2023.
- Federal Trade Commission, "Truth in Lending Act." Accessed May 5, 2023.
- Consumer Financial Protection Bureau, "What is the difference between a mortgage interest rate and an APR?" Accessed May 5, 2023.
- Greater Texas Credit Union, "What Is a Simple Interest Loan?" Accessed May 5, 2023.
About the Authors
Written by: Holly Johnson
I’m a professional writer who is obsessed with money, travel, and budgeting.
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