The Truth in Savings Act
A) provides formulas so people can calculate the APY on investments.
B) requires that banks must disclose the fees,the APR,and the APY on interest-bearing accounts.
C) requires that banks must disclose the fees,the APR,and the APY on loans.
D) provides formulas so people can calculate the APY on loans.
Correct Answer:
Verified
Q27: Which act helped eliminate investor confusion with
Q28: Anna is going to deposit $1,000 into
Q29: Which best describes compound interest?
A)Interest is added
Q30: Using mathematical formulas,financial tables,or a financial calculator,you
Q31: Which example indicates discounting?
A)Looking for less inexpensive
Q33: If your parents deposited $5,000.00 into an
Q34: All of the following are related to
Q35: What is (1+ r/n)n -1?
A)Future value (FV)
B)Annual
Q36: What is the difference between an annuity
Q37: What is earning interest on interest?
A)Compounding
B)APR (annual
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