If the interest is paid in smaller time increments, the APR will be divided by the number of time periods. If not stated otherwise, assume that the interest rate is an annual rate or APR. Interest rates are usually stated as an annual percentage rate (APR) – the total interest that will be paid in the year. Is the end amount, principal plus interest, or future value Subsection 2.2.2 APR – Annual Percentage Rate Is time, where the increment of time (years, months, etc.) matches the time period for the interest rate \(A\)
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Is the interest rate in decimal form \(t\) Is the principal, starting amount, or present value \(r\)
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