Question

interest is paid according to a rate called_______​

Answer 1

$\large\mathfrak\colorbox{blue}{\color{black}{AnSwEr~↓~↓~}}$

Interest rates on consumer loans are typically quoted as the annual percentage rate (APR). This is the rate of return that lenders demand for the ability to borrow their money. For example, the interest rate on credit cards is quoted as an APR. In our example above, 15% is the APR for the mortgagor or borrower.

Answer 2

Answer:

Annual Percentage Rate(APR)

Step-by-step explanation:

Hope this helps mate