What is the formula to calculate the Annual Percentage Rate (APR) from a monthly periodic rate?
Test Review: Unit 6 (Part A)
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Mathematics
•
9th - 12th Grade
•
Hard
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1.
FLASHCARD QUESTION
Front
Back
APR = Monthly Periodic Rate × 12
2.
FLASHCARD QUESTION
Front
What is a federal student loan?
Back
A federal student loan is a loan provided by the US Federal government to help students pay for their education.
3.
FLASHCARD QUESTION
Front
If Sheila’s monthly periodic rate is 2.41%, what is her APR?
Back
28.92% (APR = 2.41% × 12)
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