To calculate the Annual Percentage Rate (APR), you would typically use the interest rate directly if it is provided as a yearly rate. In this case, since Betty Borrower has a one-year note at 14% interest per year, the APR is simply equal to the annual interest rate.
Thus, the APR is:
APR = 14%
If there were any additional specifics or calculations required for a different compounding period or other factors, they could affect the APR calculation, but with the given information, it remains 14%.