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24 March, 19:10

Which statements best describe the difference between a periodic interest rate and an apr?

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  1. 24 March, 23:01
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    APR is the compound rate that is used to make a standard comparison of the level of interest to be paid in loans or credit card balances in a year period. A periodic interest rate is the interest that is applied to an account at the end of a time frame and is calculated by dividing the APR by 360 or 365, depending on the issuer of the loan.
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