Which statement is true about an annual percentage rate (APR)?(1 point) Responses It is of little interest to the average borrower. It is of little interest to the average borrower. It is a simple way to compare all the various elements of different loans. It is a simple way to compare all the various elements of different loans. It is reduced every time you make a payment. It is reduced every time you make a payment. It is equal to the interest rate times the principal.
