Question

What is the purpose of APR?

for borrowers to compare the rates between different loans

for lenders to compare the interest rates between different investments

for borrowers to calculate the yearly interest

for lenders to calculate the periodic interest rate

Answer 1

im sure P stands for something important ....

Answer 2

but then i spose i dont know what P stands for lol

http://www.investopedia.com/terms/a/apr.asp