Which of the Following Statements Is True of Annual Percentage

question 93

Multiple Choice

Which of the following statements is true of annual percentage rate (APR) ?

• A) The Truth-in-Savings Act was passed by Congress to ensure that the true cost of credit was disclosed to consumers.
• B) The Truth-in-Lending Act was passed to provide consumers an accurate estimate of the return they would earn on an investment.
• C) The Truth-in-Savings Act and Truth-in-Lending Act require by law that the APR be disclosed on all consumer loans and savings plans.
• D) The annual percentage rate (APR), and not the effective annual interest rate (EAR), represents the true economic interest rate.

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Definitions:

Healthcare Marketplace

A platform, whether physical or digital, where individuals and families can purchase and compare health insurance plans and products, often facilitated by government regulations.

Self-Change

The process through which individuals modify their behaviors, thoughts, or emotions through self-directed actions, often in the context of personal development or overcoming difficulties.

Population-Based Intervention

Strategies or actions aimed at addressing health or social issues on a wide scale, targeting whole populations rather than individuals.

Success Rate

The proportion or percentage of attempts that achieve a specified outcome or measure of success.