Definition of mission for Students. 1 : a task that is assigned or begun. 2 : a task that is regarded as a very important duty She thinks of teaching as her mission. 3 : a group of missionaries. 4 : a group of people sent by a government to represent it in a foreign country.
15-Year Fixed-Rate Mortgage: The payment on a $200,000 15-year Fixed-Rate Loan at 2.875% and 70.00% loan-to-value (LTV) is $1369.18 with 2.125 points due at closing. The Annual Percentage Rate (APR) is 3.311%. Payment does not include taxes and insurance premiums.
The term annual percentage rate of charge (APR) , corresponding sometimes to a nominal APR and sometimes to an effective APR (or EAPR), describes the interest rate for a whole year (annualized), rather than just a monthly fee/rate, as applied on a loan, mortgage loan, credit card, etc.PRs calculated with the reduced, or eliminated, finance charge became the below market rate and Zero percent APR' loans that were commonly advertized for the next 30 years. Zero percent APR or $1,000 rebate is the most common form of these deceptive loans.