Thank Yas All.
    Then maybe you can explain why, in many cases, the APR only lasts (say)
three months, then turns into the "Prime plus 11%". Inquiring minds want to
know.
        Q-Man

Frank Walker wrote:

> Annual percentage rate. Truth in lending act requires that all costs of
> credit be disclosed to the consumer and shown as the APR, which is the true
> or real cost of the credit involved. Includes processing fees, annual fees,
> and so forth.
>
> Frank (a bit under the weather) in Massachusetts