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:

Maslow's Need Hierarchy

A psychological theory that categorizes human needs into a hierarchical structure, from basic physiological needs to self-actualization.

Work Environments

The setting or conditions in which an organization's employees operate, including physical, social, and psychological aspects.

Not-for-profit Organisation

An entity that operates for purposes other than making a profit, focusing instead on social, educational, charitable, or other community-oriented goals.

Red Tape

Excessive bureaucracy or adherence to formal rules and regulations that can delay or complicate processes and decision-making.