Solution-Why did congress require that it be disclosed

Why did congress require that it be disclosed

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Banks and other lenders are required to disclose a rate called the APR. What is this rate? Why did Congress require that it be disclosed? Is it the same as the effective annual rate? If you were comparing the costs of loans from different lenders, could you use their APRs to determine the loan with the lowest effective interest rate? Explain.

Reference no: EM131106003

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Why did congress require that it be disclosed : Banks and other lenders are required to disclose a rate called the APR. What is this rate? Why did Congress require that it be disclosed? Is it the same as the effective annual rate? If you were comparing the costs of loans from different lenders.

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Why did congress require that it be disclosed

Reference no: EM131106003

Reference no: EM131106003

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