amitchabarwal4941 amitchabarwal4941
  • 22-02-2018
  • Business
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What is the apr on a loan that charges interest at the rate of 1.4% per month?

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MrsTriplet MrsTriplet
  • 06-03-2018
The APR stands for the Annual Percentage Rate.  To find the APR (12 months) on a loan that charges interest at the rate of 1.4% per month you will need to multiply the monthly rate of 1.4 by 12 months. 1.4 x 12 months = 16.8% APR
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