APR (Annual Percentage Rate)
The yearly cost of borrowing, before compounding is counted.
APR is the yearly rate a lender charges to borrow money, expressed as a percentage and, in many places, required to include certain fees. It is the number quoted on mortgages, car loans, and credit cards. Crucially, APR is stated before the effect of compounding, which is why it differs from APY. On a credit card that compounds monthly, your effective cost is actually a bit higher than the stated APR.