Okay, so I want to buy the iPhone with Virgin Mobile but can't really afford $500. I see that there's a Bill Me Later option to buy the phone. Does anyone know how much I have to pay each month? It says "Annual Percentage Rate (APR) of 19.99%". But what does that mean? I'm not very smart so this is probably a really dumb question.
yes, it is a very dumb question.... but kids need to learn the real world sometime.... i guess ill have this father son talk with you.... APR is when you are charged interest on top of your current payment (called the Principle)..... the principle is divided into XX monthly payments... APR is added to that monthly payment OR the principle, depending on the plan in which the principle+apr is divded by you XX monthly plan.... you see this on credit cards and college loans and car payments and anything with a subsidy plan, like Tmobile and VM's iphone beal for "bill me later"........... the more you pay, then less your principle becomes, and therefore the less interest is added..... you will be billed this PER MONTH------------ normal wireless bill + 600/12 or 24 +19.99% + federal/state/local taxes fees and surcharges..... $84.74-$118.65 per month..... estimated......... depending on your state and local tax rates enjoy!
If I have two (2) ducks and one (1) turtle, and blend them together, does that make duck soup or turtle soup?
$50 at least.