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Moneyextra.com Dictionary

Total Charge for Credit

Total Charge for Credit is the full amount that you will be required to pay. It includes the loan amount advanced interest chargeable plus any administrative fees and costs as well as any insurance costs.

It is the figure that is used as the basis from which the annual percentage rate APR is calculated.

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2009-02-17 00:00:00 © Moneyextra.com