Grover signs an installment contract with Home Appliance Store to finance the purchase of new kitchen appliances-stove, refrigerator, dishwasher, microwave, and toasteroven-for $3,999. This transaction is sub?ject to

Question

Quizplus · Accepted Answer

The Truth-in-Lending Act requires lenders to disclose the terms and costs of credit to the borrower, including the annual percentage rate (APR), finance charges, and total amount to be financed. This law applies to installment contracts like the one Grover signed with Home Appliance Store, so D is the correct choice.

Grover Signs an Installment Contract with Home Appliance Store to Finance