733. An annual rate of 16% if quoted by credit card issuer usually a bank is classified as

✅ The correct answer is C.
An annual rate of 16% if quoted by credit card issuer usually a bank is classified as annual percentage rate. An annual percentage rate (APR) is the annual rate charged for borrowing or earned through an investment. APR is expressed as a percentage that represents the actual yearly cost of funds over the term of a loan.