1:Dan Miller bought a new Toyota truck for $28,000. Dan made a down payment of $6,000 and paid $390 monthly for 70 months. The total finance charge was:

a. $11,300 b. $27,300 c. $5,300 d. None of these e. $13,300

2: Which one of the following statements is incorrect?

a. The Truth in Lending Act regulates interest charges b. APR is the true effective annual interest charged by sellers c. APR represents the true effective rate annual rate of interest d. None of these