Ask Question
13 September, 08:59

Sean is buying a new motorcycle and is looking for the best loan to pay for his purchase. What loan should he chose?

A.

Loan with the highest APY

B.

Loan with the highest APR

C.

Loan with the lowest APY

D.

Loan with the lowest APR

+4
Answers (1)
  1. 13 September, 09:19
    0
    When someone talks about APR in relation to saving, what they really mean is the "periodic rate" or simply "the rate." It's important to note that APR is a term that applies to loans. While APY, or annual percentage yield, is a term that applies to deposit accounts. So for the given problem chose the lowest APR.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Sean is buying a new motorcycle and is looking for the best loan to pay for his purchase. What loan should he chose? A. Loan with the ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers