A.

**APR**is short for Annual Percentage Rate, which is the interest you're charged over a 12-month period. For instance, a card with**24**%**APR**costs 2% per month on balances that you carry from month to month. But what's tricky about credit cards is that a single account can have several different APRs.Beside this, what does APR mean monthly?

An

**annual percentage rate**(APR) is the annual rate charged for borrowing or earned through an investment, and is expressed as a percentage that represents the actual yearly cost of funds over the term of a loan.What is 20% APR monthly?

Your APR of 20% will be divided by 12 to reveal the monthly interest rate—20/12 equals

**1.667%**As a result, monthly interest on a balance of $1000 with a 20% APR= $1,000X1.01667= $1,016.67. This calculation simply means that you will pay an additional $16 on a balance of $1,000 with an APR of 20%.What does 76.0% APR mean?

A credit card's interest rate is the price you pay for borrowing money. For credit cards, the interest rates are typically stated as a yearly rate. This is called the annual percentage rate (

**APR**). On most cards, you can avoid paying interest on purchases if you pay your balance in full each month by the due date.