Questions: What does the acronym APR stand for? Annual Percentage Rate Average Principal Return Average Percentage Rate Annual Personal Retirement

What does the acronym APR stand for? Annual Percentage Rate Average Principal Return Average Percentage Rate Annual Personal Retirement
Transcript text: What does the acronym APR stand for? Annual Percentage Rate Average Principal Return Average Percentage Rate Annual Personal Retirement
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Solution

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The answer is the first one: Annual Percentage Rate.

Explanation for each option:

  • Annual Percentage Rate: This is the correct answer. APR is a common financial term that refers to the annual rate charged for borrowing or earned through an investment, expressed as a percentage.
  • Average Principal Return: This is incorrect. This term does not correspond to the acronym APR.
  • Average Percentage Rate: This is incorrect. While it sounds similar, it is not the correct expansion of the acronym APR.
  • Annual Personal Retirement: This is incorrect. This term does not relate to the acronym APR.

In summary, APR stands for Annual Percentage Rate, which is a key term in finance used to describe the cost of borrowing or the return on investment on an annual basis.

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