APR Calculation Question
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Posted by J. Swetnam
on October 18, 2000 at 02:33:14:
How were the values for an APR calculation assigned?
As I'm told, the APR is a function of finance charges,
total payment, debt and number of scheduled payments.
How were these numbers placed into the overall formula
for APR? Who decided it? Were they authors of the
Truth in Lending
Act?
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