Answer:
14.9%
Step-by-step explanation:
Using a calculator and the formula below, what is the APR? Choose the correct answer. APR = (1 + i÷12)t - 1 Jim Tree buys his stock on credit at 14% To the nearest tenth, APR =
APR = (1 + i÷12)^(t - 1 )
where i=interest
t=time
APR=Annual Percentage Rate.
APR can give you an idea of the percentage you will pay to borrow out a loan. it is the cost attached when you want to borrow from the bank on a yearly basis.
APR=((1+0.14÷12)^(12)−1)×100=14.93%
14.9%
