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Interest Rates and APR Quiz

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Questions and Answers

Which term determines the cost of credit on a yearly basis?

Interest rate

Annual percentage rate (APR) (correct)

Yearly basis

Cost of credit

What do you need to know about the interest rate during the year?

If it is low

If it will stay the same

If it is high

If it will change (correct)

What does the APR stand for?

Average payment rate

Annual payment rate

Annual percentage rate (correct)

Average percentage rate

Interest Rates and APR Quiz

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Podcast

Questions and Answers

Which term determines the cost of credit on a yearly basis?

What do you need to know about the interest rate during the year?

What does the APR stand for?

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