Question

The periodic rate is _____.

an interest rate that changes over the term of the loan

the interest rate you are charged for one payment period

the APR multiplied by twelve

the amount of time you have to pay your loan

Answer 1

The interest rate you are charged for one payment period....... Hope it helps, Have a nice day :)

Answer 2

the interest rate you are charged for one payment period

Step-by-step explanation:

The periodic rate refers to the interest you have to pay in each payment of a loan. It is established by dividing the annual interest rate by the number of payment periods. According to this, the answer is that the periodic rate is the interest rate you are charged for one payment period.