American_Bankers_Association

CTFA · Question #157

APR is the same as the interest rate.

The correct answer is B. False. See the full explanation below for the reasoning.

Fiduciary and Trust Activities

Question

APR is the same as the interest rate.

Options

ATrue
BFalse
CIt depends
DAPR is not comparable with interest rate

How the community answered

(28 responses)

A
14% (4)
B
71% (20)
C
11% (3)
D
4% (1)

Topics

#APR#interest rate#annual percentage rate#consumer credit

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