What Is the APR on a Loan That Charges Interest

question 45

Multiple Choice

What is the APR on a loan that charges interest at the rate of 1.4% per month?

• A) 10.20%
• B) 14.00%
• C) 16.80%
• D) 18.16%

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Definitions:

Future Manager

A prospective or aspiring manager who is currently in the process of developing the necessary skills and qualifications for management roles.

AASB 141

The Australian Accounting Standards Board standard related to agriculture, guiding the accounting for agricultural activities, including the recognition and measurement of biological assets and agricultural produce.

IAS 41

The International Accounting Standard that deals with agriculture, outlining the accounting treatment for biological assets during and at the end of the agricultural activity.

Live Immature Fish

Young fish not yet reached maturity, often referenced in aquaculture or fisheries management.