Which of the following statements is FALSE?
A)The APR can be referred to as a promised annual percentage rate.
B)Although an APR is quoted on an annual basis,interest can be paid quarterly.
C)The period in which interest is applied or the frequency of times interest is added to an account each year is called the compounding period or compounding periods per year.
D)Although an APR is quoted on an annual basis,interest can be paid monthly but never daily.

Question

Quizplus · Accepted Answer

This statement is false. Interest can be paid daily, monthly, quarterly or annually, regardless of the quoted APR.

Which of the Following Statements Is FALSE