Examlex
Identify the statement that accurately describes an avatar used in training by simulation.
Annual Percentage Rate
The annual rate charged for borrowing or earned through an investment, accounting for all costs.
Interest
The cost of using borrowed money, paid by the borrower to the lender, typically expressed as a percentage of the principal sum per year.
Stated Rate
The annual interest rate of a bond or loan without adjusting for compounding or other factors, often differing from the effective rate or annual percentage rate (APR).
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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