What is Representative example?

A representative example is a worked calculation a lender publishes so you can see what a typical loan really costs, including the amount borrowed, the term, the payments and often the total repayable. Abe Student Loans shows an undergraduate loan with a stated term and a monthly principal and interest payment. Acorn Finance shows an instalment loan with no fees. ActivoBank gives a monthly payment, a total cost and both TAEG and TAN. Actinver quotes an average CAT excluding VAT on its Credito Valor product, and ABN AMRO Zakelijk shows a business credit line drawn for a short period, with a first-month cost.