Register
Which type of interest rate gives the most accurate measure of the amount a borrower will really pay in interest, because it takes into account compounding that happens during the year? (Select the best
104k views
1 vote
Which type of interest rate gives the most accurate measure of the amount a borrower will really pay in interest, because it takes into account compounding that happens during the year? (Select the best answer.) Question 4 options: FICO APR APY FCRA

User Yoavf
by
7.1k points

1 Answer

7 votes

I believe that it is APY. APY incorporates the additional complication of compound interest...

Which type of interest rate gives the most accurate measure of the amount a borrower-example-1
User Oswaldo Acauan
by
7.7k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

8.8m questions

11.4m answers

Other Questions

Which of the objects is living or nonliving: Bacteria, virus, moss, you, a lemon seed, the air, bread, lettuce and rocks?
Why aren't all minerals gemstones?
What are three important types of forces
Two methods of active transport
How can paleontologists help us understand the past
Link Copied!