Question
The APR is also called the Blank______ rate and it differs from the EAR.
Multiple choice question.
average
reversed
stated
inflated
Multiple choice question.
average
reversed
stated
inflated
Answers
GPT-4o mini
The correct answer is **stated**.
The APR (Annual Percentage Rate) is often referred to as the stated rate, and it differs from the EAR (Effective Annual Rate) in how interest is calculated and presented.
The APR (Annual Percentage Rate) is often referred to as the stated rate, and it differs from the EAR (Effective Annual Rate) in how interest is calculated and presented.