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Differences between MAPR and APR

Question: 
What is a MAPR?
Answer: 

The term MAPR stands for Military Annual Percentage Rate. The Military APR differs from the Reg Z APR. The components of the MAPR are more inclusive and this causes the MAPR to be higher than the APR. One example is an application fee. Reg Z’s APR calculation excludes this fee, but the MAPR includes it.

First published on 03/27/2016

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