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By Craig Johnson

Learning Center: Interest and APR—What's the Difference?

You see two rates when you shop for a loan, and we explain why.

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In our Fundamentals series, Rate Simple breaks down loan concepts for ordinary people. Among all the numbers swirling around the topic of mortgages, two determine how much you pay for the loan: interest rate and annual percentage rate. Everyone knows about interest rates because they go hand-in-hand with any kind of loan. Low interest rates are wat...
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