Definition of mission for Students. 1 : a task that is assigned or begun. 2 : a task that is regarded as a very important duty She thinks of teaching as her mission. 3 : a group of missionaries. 4 : a group of people sent by a government to represent it in a foreign country.
15-Year Fixed-Rate Mortgage: The payment on a $200,000 15-year Fixed-Rate Loan at 2.875% and 70.00% loan-to-value (LTV) is $1369.18 with 2.125 points due at closing. The Annual Percentage Rate (APR) is 3.311%. Payment does not include taxes and insurance premiums.
2. Know that APR can be broken down into monthly or daily interest payments. APR is the annual rate you pay on credit or loans. For example, if you take a $1,000 loan and your APR is 10%, at the end of the year you'll owe $100, or 10% of your $1,000 premium.1  But lenders can tweak that number and charge monthly.. Know that APR can be broken down into monthly or daily interest payments. APR is the annual rate you pay on credit or loans. For example, if you take a $1,000 loan and your APR is 10%, at the end of the year you'll owe $100, or 10% of your $1,000 premium.