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1. What does APR mean?

2. WEEK 1_1 LESSON OBJECTIVE: Understanding the meaning of, ‘APR’
K E Y T E R M S:
APR - Annual percentage rate.
ANNUAL - An event that happens once every twelve months.
PERCENTAGE - An amount of something expressed as a number out of 100.
RATE - The speed at which something changes.
ANNUAL PERCENTAGE RATE - The rate at which a person who borrows money is
charged, calculated over a period of twelve months.

3. TASK 1 - Which of these images shows ANNUAL, PERCENTAGE or RATE?
P1 P2 P3 P4

4. TASK 2 - Complete the
paragraph below by filling in the
missing words.
amount, every, loan, interest
An APR is expressed as an ... rate. It calculates what percentage of the starting ... the
borrower must pay ... year. This is done by taking into account factors such as the total
amount of the ... and the borrower's credit score.

5. TASK 3
(Example)
● Loan amount borrowed - $100
● APR - 7%
● Loan amount paid back - $107
If you borrowed $100 and the loan APR is 7%, after a year, you would pay back
$107 in total.

6. TASK 4
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