What is the difference between APR and APY? Which one is used in interest factor formulas, tables, and spreadsheet functions?
What will be an ideal response?
APR is a nominal interest rate while APY is an effective rate. The APY must be used in all interest formulas, factors and functions.
You might also like to view...
Interactions with animals and interactions with humans are types of agnostic behavior
Indicate whether this statement is true or false.
When planting bare root trees, the roots should be spread out and the broken roots should be pruned
Indicate whether the statement is true or false
How are the high voltage batteries cooled in an HEV?
A) Ice packs B) By forced air from under the vehicle C) By opening a folding roof flap D) By circulating cabin air
A dual clutch-type transmission includes all of these EXCEPT ________
A) Torque converter B) Counter shaft C) Two clutches D) Helical gear sets