The Truth in Lending Act of 1968 mandates banks quote loan rates as an which effectively the true cost of the loan if the compounding frequency is more than one time a year.

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MINIMOUSE5857 MINIMOUSE5857

28-02-2020
Social Studies

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The Truth in Lending Act of 1968 mandates banks quote loan rates as an which effectively the true cost of the loan if the compounding frequency is more than one time a year.

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Adematae Adematae · Answer 1 · 2020-03-01T04:35:15+01:00

Adematae Adematae

01-03-2020

Answer:

Annual percentage rate; understate

Explanation:

The Truth in Lending Act (TILA) protects you against inaccurate and unfair credit billing and credit card practices. It requires lenders to provide you with loan cost information so that you can comparison shop for certain types of loans.

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The Truth in Lending Act of 1968 mandates banks quote loan rates as an __________ which effectively __________ the true cost of the loan if the compounding frequency is more than one time a year.

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The Truth in Lending Act of 1968 mandates banks quote loan rates as an which effectively the true cost of the loan if the compounding frequency is more than one time a year.