Which of the following mathematical expressions computes the annual percentage rate (APR) for short-term financing?
A. APR = Percentage cost per period × Number of borrowing (interest) periods in one year
B. APR = (1 + Percentage cost per period)Number of borrowing (interest) periods in one year + 1.0
C. APR = (1 + Percentage cost per period)Number of borrowing (interest) periods in one year- 1.0
D. APR = (1 + Percentage cost per period) Number of borrowing (interest) periods in one year
E. APR = Percentage cost per period + 1
Answer: A
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