Financial & Economic Glossary
Clear, accessible definitions for personal finance, debt management, and investing terminology.
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Annual Percentage Rate (APR)
The yearly interest rate charged on borrowed money, incorporating nominal interest rates plus mandatory lender fees or financing charges.
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Annual Percentage Yield (APY)
The actual rate of return earned on a deposit or investment over one year, taking into account the effect of compound interest.
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Asset
Any tangible or intangible resource possessed by an individual or business that holds economic value and can produce future cash flow.