The Organization of Petroleum Exporting Countries Is a

question 240

Multiple Choice

The Organization of Petroleum Exporting Countries is a

• A)professional trade association for oil companies.
• B)cartel.
• C)consortium for joint ventures in oil exploration.
• D)loose collection of democracies that promote international pipelines.

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Definitions:

Loan Payment

A payment made by a borrower to a lender that may include both the principal and interest.

Effective Annual Rate

The interest rate on a loan or financial product restated from the nominal rate as an annual rate, including any compounding that occurs during the year.

APR

Annual Percentage Rate, a measure that reflects the annualized cost of borrowing including interest and other fees, making it easier to compare different financial products.

Rate of Compounding

The frequency with which interest is added to the principal balance of an investment, which can significantly affect the total interest earned or paid.