Question

When selecting a credit card or applying for a loan, THIS is very important to identity, which is the cost of borrowing money expressed as year

rate
A.ARM
B.APR
C.SSA
D. SEC

Answer 1

B.APR

Step-by-step explanation:

APR, or annual percentage rate, is a phrase associated with credit cards, mortgages, and other types of loans. It refers to the interest paid on a loan per year. APR is expressed as a percentage and represents the actual cost of borrowing money. For an investment, the APR represents the expected returns as a percentage of the invested amounts.

When comparing lenders or selecting a credit card provider, the APR rate tells the borrower the borrowing cost from each lender.