you have just purchased a new ipad pro for $1400 fromthe apple store. you must make 8 monthly $200payments beginning today. what is the interest rate thatyou will be paying the apple store expressed as an apr?

Respuesta :

The APR is 0%. APR stands for Annual Percentage Rate, which takes into account interest rate and fees charged over the life of the loan.

Since there are no interest or fees charged in this case, the APR is 0%.

The annual interest produced by a sum that is paid to investors or charged to borrowers is referred to as the annual percentage rate (APR). APR is a percentage that expresses the actual annual cost of borrowing money throughout the course of a loan or the revenue from an investment.

The annual percentage rate (APR), which a financial institution assesses on a loan or the return on an investment, is the annual percentage. APR is calculated using the following formula: APR = (Fees + Interest) x 1 year x 100 / Principal amount, number of loan terms. APR comes in two flavours: fixed APR and variable APR.

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