Which One of the Following Statements Concerning the Annual Percentage

question 49

Multiple Choice

Which one of the following statements concerning the annual percentage rate (APR) is correct?

• A)The APR considers interest on interest.
• B)The rate of interest you actually pay on a loan is called the APR.
• C)The effective annual rate is lower than the APR when an interest rate is compounded quarterly.
• D)Lenders are not permitted to disclose or advertise the APR of a loan.
• E)The APR equals the effective annual rate when simple interest is applied to a loan.

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Definitions:

Humanistic

An approach in psychology that emphasizes the individual's inherent drive towards self-actualization and creativity, focusing on the whole person and their personal growth.

Motivational Interviewing

A counseling approach that seeks to engage a client's intrinsic motivation to change behavior by exploring and resolving ambivalence.

Therapeutic Relationship

A professional bond between a therapist and a client aimed at enhancing the client's well-being and facilitating growth and healing.

Client-centered

A therapeutic approach focusing on valuing the client's perspective and fostering their self-discovery and problem-solving capacities.