Which of the Following Mathematical Expressions Computes the Annual Percentage

question 56

Multiple Choice

Which of the following mathematical expressions computes the annual percentage rate (APR) for short-term financing?

• A)APR = Percentage cost per period × number of borrowing (interest) periods in one year
• B)APR = (1 + Percentage cost per period)^{number of borrowing (interest) periods in one year} + 1.0
• C)APR = (1 + Percentage cost per period)^{number of borrowing (interest) periods in one year} - 1.0
• D)APR = (1 + Percentage cost per period) ^{number of borrowing (interest) periods in one year}
• E)APR = Percentage cost per period + 1

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