What is annual percentage rate or APR? What is Daily Periodic Rate? Credit Card Interest!
This video is about the #creditcard #APR #annualpercentagerate & #dailyperiodicrate. The #annualpercentagerate #APR is the #interestrate charged on #creditcard balances expressed in a standardized, annualized way. This rate is divided by number of days in year to get #dailyperiodicrate. Daily periodic rate is then multiplied into number of days in #billingcycle and #averagedailybalance to get the #interestamount