In determining the cost of bank financing,which is the important factor?
A) Prime rate.
B) Nominal rate.
C) Annual rate.
D) Discount rate.

Name: In determining the cost of bank financing,which is the important factor? A) Prime rate. B) Nominal rate. C) Annual rate. D) Discount rate.
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Question

Quizplus · Accepted Answer

The annual rate, often referred to as the annual percentage rate (APR), is crucial as it represents the true cost of borrowing, including interest and fees, expressed annually.

In Determining the Cost of Bank Financing,which Is the Important