The rate of interest actually paid or earned, also called the annual percentage rate (APR), is the ________ interest rate.
A) effective.
B) stated.
C) discounted.
D) continuous.

Name: The rate of interest actually paid or earned, also called the annual percentage rate (APR), is the ________ interest rate. A) effective. B) stated. C) discounted. D) continuous.
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Question

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The annual percentage rate (APR) is the stated interest rate, which does not account for compounding within the year.

The Rate of Interest Actually Paid or Earned, Also Called