The Truth in Savings Act

question 40

Multiple Choice

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

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Definitions:

Daily Living

The routine activities that people do every day including eating, bathing, dressing, and going about their daily tasks.

Bathes Daily

The practice of washing oneself in water or another liquid, typically performed daily for personal hygiene.

Dysfunctional Interactions

Social exchanges that are impaired or operate in counterproductive ways, often leading to conflict or misunderstanding within groups or relationships.

Family Support

The process of providing assistance, encouragement, and resources to families to strengthen their capacity to care for their members.