The contractual rate of interest is always stated as a(n)
A) monthly rate.
B) daily rate.
C) semi-annual rate.
D) annual rate.

Question

Quizplus · Accepted Answer

The contractual rate of interest is typically stated as an annual rate. This is the standard practice for expressing interest rates in contracts, making it easier to compare different financial products and understand the cost of borrowing or the return on investment over a year.

The Contractual Rate of Interest Is Always Stated as A(n)