Answer:
The correct answer is letter "B": annual percentage rate.
Step-by-step explanation:
The Annual Percentage Rate or APR is the cost per year of borrowing. By law, all financial institutions must show customers the APR of a loan or credit card, which clearly indicates the real cost of the loan. It is not the same as the Interest Rate on a loan. Loans charge interest rates but usually charge other fees such as closing costs, origination fees, and insurance costs.