Which One of the Following Statements Is Incorrect

question 10

Multiple Choice

Which one of the following statements is incorrect?

• A)APR is the true effective annual interest charged by sellers
• B)The Truth in Lending Act regulates interest charges
• C)APR represents the true effective annual rate of interest
• D)An installment loan is paid off with a series of equal periodic payments
• E)None of these

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Definitions:

Variable Resistor

An electronic component that can adjust the flow of electrical current through it by changing its resistance.

Potentiometer

A variable resistor with a sliding contact that is used as a voltage divider.

Composition Carbon

A resistor type made from compressed carbon or graphite mixture, known for its stability and reliability in a range of electrical applications.

Carbon Graphite

A form of carbon characterized by its crystalline structure, used in various applications like electrodes, lubricants, and as a reinforcing material.