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miskamm [114]
3 years ago
5

What are the characteristics of an annual percentage rate? Check all that apply. It can change over time for certain kinds of lo

ans. It is the interest charged each year for a loan. It requires the borrower to pay all the principal at once. It can be reduced to reflect the borrower’s credit history. It has little impact on the amount the b
Geography
1 answer:
sleet_krkn [62]3 years ago
3 0

Answer:

  • It can change over time for certain kinds of loans.
  • It is the interest charged each year for a loan.
  • It can be reduced to reflect the borrower’s credit history.

Explanation:

The annual percentage rate is the amount of interest that is charged to the loanee for borrowing the loan and it is different for different types of loans such that with some kinds it can change overtime based on certain factors such as inflation.

Percentage rates are a reflection of the riskiness of the borrower so if the borrower has a good credit history, the rate can be reduced to show that the borrower is not too risky.

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