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Auto
Loan Calculator
Loan
Term
The period of a loan, generally measured in years. Auto loans: generally
range between two and five years.
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Interest
Rate APR
The "Annual Percentage Rate" is a yearly rate of interest
which includes fees and costs paid to acquire the loan. Lenders are
required by law to disclose the APR, and the rate is used to compare
various loans available, making even simple interest and compound
interest loans comparable. The percentage of a sum of money charged
for its use.
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Loan
Amount
That which one lends or borrows, esp. a sum of money lent at interest;
as, he repaid the loan.
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