User:A F "Bob" Blair Jr

A F "Bob" Blair Jr has the e-mail address of afblair@internet8.net. Passion: Seeing the expression of Annual Percentage Rate (APR) being financially, mathematically accurate (True). The definition of “Effective” APR used to be the effect of “compounding” in books of financial tables, such as Thorndike’s Encyclopedia of Financial Tables (1970’s) and others book of that era. Now, the very credible National Consumer Law Center (nclc.org), in their book “TRUTH IN LENDING” uses the “effective” wording to reflect the effects of allowable fees added to a loan. Who controls the meaning, I do not know. There is an easy solution to clarify the selection of a mnemonic acronym …, let it represent the common-usage beginning letter. The Truth in Lending Act (TILA) of 1968 allows the antiquated, untrue simple-interest method of expressing the APR and calls it the Nominal APR … used for comparison. Nowhere does it state that it is true. If fees are added, as in a home loan, then those dictates by TILA must be used in expressing the final APR in a final APR box (called the Schumer Box, named after the legislator, who authored the bill requiring its use). The Truth in Savings Act (TISA) of 1991 uses the mathematically-true compound APR and calls it the Annual Percentage Yield, acronym, APY). Therefore, I hereby recommend the following unobfuscated acronyms for the various APRs:	Simple Interest (as in TILA):      SIAPR  (not the current “APR”)	Compound (as in TISA):	        CAPR  (not the current “APY”)	Fees Included Simple Interest:   FISIAPR (not the current “APR”)