Which statement is true about an annual percentage rate (APR)?(1 point) Responses It is equal to the interest rate times the principal. It is equal to the interest rate times the principal. It is reduced every time you make a payment. It is reduced every time you make a payment. It is of little interest to the average borrower. It is of little interest to the average borrower. It is a simple way to compare all the various elements of different loans.
1 answer
It is a simple way to compare all the various elements of different loans.