The interest rate charged per period multiplied by the number of periods per year is called the _____ rate.
A) effective annual
B) annual percentage
C) periodic interest
D) compound interest

Question

Quizplus · Accepted Answer

The annual percentage rate (APR) is the interest rate charged per period multiplied by the number of periods per year. It provides a standardized comparison for different financial products by including any fees or additional costs associated with the transaction.

The Interest Rate Charged Per Period Multiplied by the Number