Examlex
Which of the following is the most important reason to be able to communicate effectively with patients and keep them informed?
APR
The Annual Percentage Rate (APR) is a measure of the cost of borrowing that includes interest and other fees, shown as a yearly rate.
Compound Interest
The concept of earning interest on previously earned interest. A sum earning compound interest grows exponentially over time.
Interest
The expense associated with taking out a loan or the earnings from an investment, usually quantified as a percent of the initial amount.
Annual Percentage Rate
The annual rate charged for borrowing or earned through an investment, which represents the actual yearly cost over the term of a loan.
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