1.) Explain how to calculate the amount financed, finance charge, and APR by table lookup. Do you think the Truth in Lending Act should regulate interest charges?

2.) Explain the advantages and disadvantages of the following loan types: 30-year fixed-rate, 15-year fixed-rate, graduated-payment mortgage, biweekly mortgage, adjustable-rate mortgage, and home equity loan. Why might a bank require a home buyer to establish an escrow account?