A Lender Charges a Monthly Rate of 2 Per Cent

question 41

Multiple Choice

A lender charges a monthly rate of 2 per cent. What is the equivalent annual percentage rate?

• A) 26.82%
• B) 28.62%
• C) 12.68%
• D) 24%

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Definitions:

Communicable Disease

An infectious disease transmissible by direct contact with an affected individual or the individual's discharges or by indirect means.

Infectious Disease

Illnesses caused by pathogens such as bacteria, viruses, fungi, or parasites, often contagious and can range from mild to severe.

Heart Disease

A range of conditions affecting the heart, including coronary artery disease, arrhythmias, and heart defects.

Self-Care

The practice of taking action to preserve or improve one's own health, well-being, and happiness, particularly during periods of stress.