A credit card charges an interest rate of one percent per month. Define the annual percentage rate $($APR$)$ for this debt.

The APR is equal to one percent per month multiplied by $12$ months per year.

The APR is equal to one percent raised to the $12$th power.

The APR is equal to $(1+0\mathrm{.}01{)}^{12}-1.$

The APR is one percent.