An annual rate of 16% if quoted by credit card issuer usually a bank is classified as Options: A . &nbsploan rate of return B . &nbsplocal rate of return C . &nbspannual percentage rate D . &nbspannual rate of return

An annual rate of 16% if quoted by credit card issuer usually a bank is classifi

Question

An annual rate of 16% if quoted by credit card issuer usually a bank is classified as

Options:

A . loan rate of return

B . local rate of return

C . annual percentage rate

D . annual rate of return

Answer: Option C
Answer: (c).annual percentage rate

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