HELP ME PLZ 10 POINTS Which statements best describe the difference between a periodic interest rate and an APR? (4 points)
a
A periodic interest rate is the amount of interest someone will pay for a specific time frame. An APR is the amount of interest someone will pay each year.
b
A periodic interest rate is the amount of interest someone will pay each year. An APR is the amount of interest someone will pay for a specific time frame.
c
A periodic interest rate is interest that is applied to an account at the end of a specific time frame. An APR is interest that is applied to an account once at the end of the year.
d
A periodic interest rate is interest that is applied to an account once at the end of the year. An APR is interest that is applied to an account at the end of a specific time frame.