What is the APR?
A. The cost of the credit expressed as a dollar amount
B. The cost of the credit expressed as an interest rate
C. The interest rate used to calculate the periodic payment
D. A way to determine the interest rate of an ARM
Answer:B
What is the APR?
A. The cost of the credit expressed as a dollar amount B. The cost of the credit expressed as an interest rate C. The interest rate used to calculate the periodic payment D. A way to determine the interest rate of an ARM