Selma borrows $125,000 from Riverview Credit Union to buy a home. Among the terms that must be
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Selma borrows $125,000 from Riverview Credit Union to buy a home. Among the terms that must be disclosed under federal law is the annual percentage rate. This rate is
a. the actual cost of the loan on a yearly basis.
b. the average prime offer rate.
c. the interest rate at which the loan is made.
d. the loan principal.
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Related Book For
Business Law Text And Exercises
ISBN: 9780357717417
10th Edition
Authors: Roger LeRoy Miller, William E. Hollowell
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