The APR Represents The

question 36

Multiple Choice

The APR represents the:

• A)Stated rate of interest
• B)True effective quarterly interest rate charged by seller
• C)True effective annual rate of interest charged by buyer
• D)True effective annual rate of interest charged by seller
• E)None of these

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Definitions:

Possess

To have or hold something as one's own, to control or occupy something whether physically or legally.

Ownership

The legal right to possess, use, and dispose of something, encompassing both tangible and intangible assets.

Subrogation

The legal right of an insurance company to pursue a third party that caused an insurance loss to the insured, in order to recover the amount of the claim paid to the insured.

Creditor

An entity or person to whom money is owed by another entity or person.