Responses
It is a simple way to compare all the various elements of different loans.
It is a simple way to compare all the various elements of different loans.
It is reduced every time you make a payment.
It is reduced every time you make a payment.
It is equal to the interest rate times the principal.
It is equal to the interest rate times the principal.
It is of little interest to the average borrower.
It is of little interest to the average borrower.
1 answer
The true statement about an annual percentage rate (APR) is:
It is a simple way to compare all the various elements of different loans.
APR provides a standardized way to express the total cost of borrowing, including both the interest rate and any associated fees, making it easier for borrowers to compare loans.
