John loans George money, and they sign a written agreement whereby George will repay John in monthly installments. Is this loan subject to the Truth in Lending Act?
A. Yes, if the loan is for more than $1,000.
B. Yes, if John and George live in different states.
C. No, if John is not in the business of offering credit.
D. No, if John and George are related.
Answer: C
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What will be an ideal response?
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A) $263.72 B) $262.54 C) $260.97 D) $269.41
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Answer the following statement true (T) or false (F)