Which statements best describe the difference between a periodic interest rate and an apr?

Interest is the use of someone else's capital, which is what banks charge for providing a person with an amount of money that they do not have at that time.

Explanation:

The annual interest rate is a percentage charged by the bank to the debtor on the debt it holds. It is what the debtor has to pay together with the capital for one year (12 months).

The periodic interest rate corresponds to the % that is charged per day, month, etc. of a debt, generally it is the annual interest rate divided in 365 days, some financial institutions divide it in 360. This ends up paying more because each day the interest is integrated as part of the capital.

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i would ask my boss to do more things around the car shop. and i would slowly work my way up to working on cars and becoming a full time mechanic.

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