Description

APR, or Annual Percentage Rate, is a measure used to express the cost of borrowing on a yearly basis, including interest and fees. It is a crucial figure for understanding the total cost of a loan or credit over time.

Interpreter Notes

Interpreters may encounter variations like 'tasa de interés anual' or 'tasa de interés efectiva', which are colloquial or regional terms but not precise equivalents. It is important to maintain the formal terminology in clinical contexts to avoid confusion about financial terms.

Example Sentences

EN: The APR on this loan is significantly higher than what was initially advertised.

ES: La tasa de porcentaje anual de este préstamo es significativamente más alta de lo que se anunció inicialmente.

Common Interpreter Mistakes

Confusing APR with simple interest; using informal terms instead of the formal term; misinterpreting the implications of APR in financial discussions.