Annual Percentage Rate

From Open Risk Manual

Definition

Annual Percentage Rate is a property of the Financial Product class[1]. Defined as the annual rate that is charged for borrowing (or made by investing), expressed as a single percentage number that represents the actual yearly cost of funds over the term of a loan. This includes any fees or additional costs associated with the transaction.

Expected Type

Number of Quantitative Value

References

  1. Financial Industry Business Ontology project

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