Business Question
View this question.
Add this question to a group or test by clicking the appropriate button below.
Which of the following statements best describes the annual interest rate?
- It is the percent of the principal you earn as interest based on one year.
- It is the percent of the principal you earn as interest based on one month.
- It is the percent of the principal you owe as interest based on one year.
- It is the percent of the principal you owe as interest based on one month.