Hurry an annual percentage rate, or apr, represents how mucha interest is paid over a year. b interest is paid over many years. c principal is paid over a yeard principal is paid over many years. what is one example of a closed economy? a) a barter system that does not rely on money or other currencyb) a restricted system that blocks trade with international partnersc) a trade-based system that encourages the flow of goods and servicesd) an old-fashioned system that preserves traditional choices and customs

1. An annual percentage rate, or APR, represents how much  interest is paid over a year. Correct A APR is expressed as a percentage that represents the actual yearly cost of funds over the term of a loan. A fixed APR loan has an interest rate that is guaranteed not to change during the life of the loan or credit facility, while a variable APR loan has an interest rate that may change at any time.

2. A closed economy considers itself self-sufficient and does not trade with other nations. One example of a closed economy is a restricted system that blocks trade with international partners. Correct B There is only domestic production of endogenous goods in this type of economy.

The annual percentage rate is the interest rate for the whole year rather than for a month. Closed economy is one with restricts trading with other economies.

The correct options are:

interest is paid over a year.

a restricted system that blocks trade with international partners.

Annual percentage rate or APR is the annual rate of interest paid by a borrower or paid to an investor. The interest is calculated as a percentage of the principal.

Therefore, APR represents the amount of interest that is paid over a year.

Closed economy refers to an economy that restricts its trade operations with outside economies. It is self-sufficient and has zero trade relations with international economies.

Therefore, the example of closed economy is a restricted system that blocks trade with international partners.

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