The Annual Percentage Rate (APR) is the cost you pay each year to
borrow money. The APR includes interest and fees and is expressed as a
percentage.

Banking is the business of providing financial services, such as deposits, loans, investments and payments, to individuals, businesses and other organizations. Banking involves accepting deposits from customers, granting credit in exchange for those deposits and using those funds to make loans or investments. Banks use the money they receive from customers to generate income by investing it in various assets, such as stocks or bonds.

A credit score is a numerical expression based on a statistical analysis of an individual’s credit information, which is used to represent the creditworthiness of that individual. It is primarily based on the individual’s past payment history and current debt load, and is one of the most important factors in determining whether or not that person can be approved for a loan or other financing.

A measure of a borrower’s ability to manage debt, calculated by dividing total monthly debt payments by gross monthly income.