Which statement about the Annual Percentage Rate (APR) is NOT true?

A.The APR helps compare loans with the same payback period, but with different monthly rates and different fees.

B.The APR for a loan depends on when the loan must be repaid.

C.Loan fees are included in determining the APR.

D.If you have good credit, you will get a higher APR.

the answer is D (the last one) because the APR only increases when you have a higher percentage, if you have a good credit it will only result in a lower APR

Answer Link

Аноним Аноним · Answer 2 · 2019-01-24T11:45:44+01:00

APR= Annual Percentage Rate

Usually on credits APR is fixed for a year.

If you have good credit , that is if you pay your interest timely for money taken from financial institution or Private Organization the Organization will Provide money With lower APR.

So, all the first three Statements

If you are taking loan from two different organizations , the rate of APR may be different, depends upon credibility of that institution and your value in the market.

Similarly, APR also, depends on time , that is Period for which you have taken the loan as well as the Amount you have taken from a firm or institution is taken into consideration while deciding the rate of APR.

All the statements , apart from

Statement (D) : .If you have good credit, you will get a higher APR is Untrue.