The Trimbles apply to Community Bank for an installment loan of $20,000 to remodel their bathroom. Discuss the disclosures Community Bank is required to make.
What will be an ideal response?
The Truth in Lending Act will apply to this loan because it is a consumer loan, it will be repaid in more than four installments or has a finance charge, the loan is for less than $54,600, and it is made by someone in the business of offering credit. All loans regulated by the TILA must have clear disclosures in a meaningful sequence. Also, the lender must disclose the amount financed, the total amount the consumer will have paid by the end of the loan, the finance charge (the amount in dollars the consumer will pay in interest and fees over the life of the loan), and the annual percentage rate (the actual rate of interest the consumer pays on an annual basis).
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Of the following, which country received the highest score on the Greendex sustainable consumption index, which suggests they minimize their environmental impact via decisions made about transportation, household energy, resource use, and food/good
consumption? A) China B) Brazil C) India D) United States E) France
A small stock dividend normally results in a transfer from Retained Earnings to Contributed Capital of an amount equal to the market value of the stock
Indicate whether the statement is true or false
In the context of operations management, a product does not include intangible features.
Answer the following statement true (T) or false (F)
The purpose of the __________ algorithm is to enable two users to securely reach agreement about a shared secret that can be used as a secret key for subsequent symmetric encryption of messages
What will be an ideal response?