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What are the limitations of the apr

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The Federal Truth in Lending Act requires lenders to disclose the annual percentage rate so that borrowers can more easily shop for mortgage credit. How can borrowers may use the APR to shop for mortgage credit. What does the APR imply about the cost of a mortgage? How does the APR relate to the effective cost of borrowing (ECB)? What are the limitations of the APR?

Reference no: EM132645110

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