APR
Also called: annual percentage rate, interest rate
Short for Annual Percentage Rate. It is the total yearly cost of a loan or credit card, with interest and some fees in one number.
Example
One card has a 29% APR and another has 18%. The 18% card costs you less if you carry a balance.
Why it matters
When you compare loans, compare the APR, not just the monthly payment.
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For learning, not personal financial, tax or legal advice. Rules and limits can change each year, so check official sources (like IRS.gov or your plan's documents) or a trusted pro before big decisions.