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MSC: 91B28, 91Bxx
The article focuses on the analysis of APR, annual percentage rate, from the point of view of the frequency of instalments. It is an idicator which shows real expenses connected to consumer credits which also takes into account time value of money. Nevertheless, it is not always the main criterion when deciding which loan to take. Clients usually decide according to the size of instalments and lending rate only. The article also includes the comparison of the rate, the coefficient of increase and the indicator of APR. Moreover, the attentions is paid to the problem of short-terms loans. The goal of the article is to contribute to the development of financial literacy of Czech consumers which is considered to be the main reason for the undesirable increase of the indebtedness of households and to highlight matters which the credit applicant should take into account.
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