Which of the following methods of computing finance charges results in the highest APR cost to borrowers?
A) discount rate
B) add-on rate
C) monthly amortization
D) single-payment
Correct Answer:
Verified
Q51: The finance charge is
A) total dollar amount
Q52: Under the adjusted balance method of assessing
Q53: Which of the following method for assessing
Q54: The APR is
A) the average rate paid
Q55: Assume a single-payment $1,000 loan for one
Q57: Given a $15,000, 3 year loan at
Q58: Borrower's risk of using adjustable rate consumer
Q59: Interest rate rebates on installment loans paid
Q60: The law that ensures that credit is
Q61: The law that requires public disclosure of
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