Greg signs an installment contract with Home Appliance Store to finance the purchase of new kitchen appliances-stove, refrigerator, dishwasher, microwave, and toaster oven-for $3,999. This transaction is subject to

Question

Greg signs an installment contract with Home Appliance Store to finance the purchase of new kitchen appliances-stove, refrigerator, dishwasher, microwave, and toaster oven-for $3,999. This transaction is subject to​

Quizplus · Accepted Answer

The Truth-in-Lending Act applies to installment contracts and requires clear disclosure of key terms and costs of the credit being offered.

Greg Signs an Installment Contract with Home Appliance Store to Finance