Florida Considers Any Loan of More Than an APR Compounded

question 98

Multiple Choice

Florida considers any loan of more than an APR compounded monthly to be usurious.What is the usurious effective annual rate?

• A) 18.00%
• B) 19.25%
• C) 19.56%
• D) 22.25%

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Definitions:

Polypeptide Chain

A long series of amino acids linked by peptide bonds, forming part of the structure of proteins.

Peptide Bond

A chemical bond formed between two amino acids during protein synthesis, characterized by the linkage of a carboxyl group of one amino acid to the amino group of another.

Amino Acids

Organic compounds that serve as the building blocks of proteins, essential for various bodily functions including tissue repair and nutrient absorption.

Chromosomes

Structures within cells that contain DNA and carry genetic information essential for the development, function, and reproduction of living organisms.