Translate an APR into Real Cost

A lender quotes an APR and it means nothing until you see the total. This turns the percentage into a real cost breakdown: what APR includes, the interest on your borrowing over the term, and how it stacks up. For anyone weighing a loan or credit card who wants the figure in pounds and pence before signing.

<context>
You have been offered a loan or credit card with an APR of {APR_PERCENT}%. You want to understand what this actually means in pounds and pence over a typical borrowing period.
</context>

<task>
**Turn the APR figure into a concrete cost breakdown:**
1. Explain what APR stands for and what it includes (interest plus fees)
2. Show the total interest paid on a [loan amount] borrowed over [repayment term] at this APR
3. Compare it to a lower APR alternative at [comparison rate]% to show the difference in total cost
4. Explain what representative APR means and why your actual rate might differ
5. Identify two situations where a higher APR product might still be a rational choice
</task>

<output_format>
- Plain-English explanation of APR (2-3 sentences)
- Cost table: monthly payment, total repaid, total interest for both rates
- A one-paragraph summary of when the higher-APR product is worth considering
</output_format>