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Which are true statements about APR? Select the two correct answers.(1 point) Responses It is calculated based on the total cost of the loan. It is calculated based on the total cost of the loan. It is calculated as a percentage of the amount of the principal you have not yet paid back. It is calculated as a percentage of the amount of the principal you have not yet paid back. It stands for Annual Percentage Rate. It stands for Annual Percentage Rate. It is calculated just once, when you take out the loan.

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The true statements about APR are:

1. It is calculated based on the total cost of the loan.
2. It stands for Annual Percentage Rate.
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