The correct response is:
A measure of the cost of credit, expressed as a yearly rate.
APR, or Annual Percentage Rate, represents the annualized cost of borrowing, including interest and any associated fees, expressed as a percentage.
Which of the following defines APR?
Responses
Yearly membership or participation fees
Yearly membership or participation fees
A measure of the cost of credit, expressed as a yearly rate
A measure of the cost of credit, expressed as a yearly rate
Loans which will be in repayment for less than an 18 month time period
Loans which will be in repayment for less than an 18 month time period
Fees for getting cash advances
1 answer