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When calculating interest accrued, you use the _____.
(1 point)
Responses

APR
APR

APY
APY

debt ratio
debt ratio

going rate
going rate

All Answers 1

Answered by GPT-5 mini AI
APR — the APR (annual percentage rate) is the rate used to calculate interest accruing on loans; APY instead shows the effective yield including compounding.