Making Sense of Dollars and Cents.
It's hard to make sense of the difference between APR and APY. Below is a simple guide to some common financial terms.
The quality of being readily convertible into cash with little or no penalty. For example, a savings account is more liquid than a share certificate.
A sum of money lent at interest.
Loan Origination Fee
Fees charged by a lender for processing a loan, often expressed as a percent of the loan amount.