question 8 of 10\nwhich statement is correct about annual percentage rate (apr)?\nit has nothing to do with…

question 8 of 10\nwhich statement is correct about annual percentage rate (apr)?\nit has nothing to do with how much interest you pay.\nit is better for the borrower if the rate is higher.\nit is the interest rate you pay on balances you carry over from month to month.\nit stands for amortized percentage rate.

question 8 of 10\nwhich statement is correct about annual percentage rate (apr)?\nit has nothing to do with how much interest you pay.\nit is better for the borrower if the rate is higher.\nit is the interest rate you pay on balances you carry over from month to month.\nit stands for amortized percentage rate.

Answer

Brief Explanations:

Annual Percentage Rate (APR) is the interest rate paid on balances carried over from month - to - month. It directly affects the amount of interest a borrower pays, and a lower APR is better for borrowers. Also, APR does not stand for Amortized Percentage Rate.

Answer:

It is the interest rate you pay on balances you carry over from month to month.