Jones entered into an agreement with Marina Boats for the purchase of a new sailboat for $21,000. The purchase was to be on credit, subject to a favourable credit report on Jones. Marina Boats checked with Credit Reporting Company, and was informed that a B. Jones had defaulted on a number of debts, and currently had judgments in the amount of $30,000 against him. The credit arrangement for the purchase of the boat by Jones must disclose only the amount borrowed, the terms of loan, the monthly payments, and the true interest rate. Group of answer choices True False