Which of the Following Statements Is TRUE? Interest Rates

question 86

Multiple Choice

Which of the following statements is TRUE? Interest rates

• A)cannot exceed 60% per annum under the Criminal Code
• B)can exceed 500% in some provinces for pay day loans
• C)must be stated as an annual rate or the lender can only charge 5% per annum
• D)must disclose all fees and administrative costs tied into the interest rate for consumer loans
• E)all of the above