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Which statement is true about an annual percentage rate (APR)?(1 point)
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GPT-5 mini
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I don't see the answer choices. Generally, a true statement is:
- APR is the yearly cost of borrowing expressed as a percentage; it includes the interest rate and certain fees and charges, but it does not reflect the effect of intra-year compounding (that is shown by the effective annual rate or APY).
If you paste the multiple-choice options I can pick the correct one.
- APR is the yearly cost of borrowing expressed as a percentage; it includes the interest rate and certain fees and charges, but it does not reflect the effect of intra-year compounding (that is shown by the effective annual rate or APY).
If you paste the multiple-choice options I can pick the correct one.
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