A number of states have enacted statutes exempting the following types of lenders from their usury laws:
A) eligible lenders of installment loans.
B) lenders for large consumer loans.
C) lenders of unsubsidized educational loans.
D) None of these. Only certain types of transactions rather than types of lenders are exempted.
A
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You are planning to buy a new house. You currently have $35,000 and your bank told you that you would need a 15% down payment plus an additional 4% in closing costs. If the house that you want to buy costs $250,000 and you can make a 7% annual return on your investment, determine the following:
a) When will you have enough money for the down payment and closing costs, assuming that the $15,000 is the only investment that you make? b) You decide that you want to buy the house in 3 years. How much do you need to save every month to achieve your goal? c) Assume that three years later the house still has the same price and that you can get a 15-year mortgage from your bank at a fixed rate of 4.5%: 1. What are the monthly payments on the loan? 2. How much will you have to pay the bank each year? 3. What is the total interest over the term of the loan? 4. How much do you pay on interest and principal the first monthly payment? 5. How much in the 50th month? (Hint: use the IPMT and PPMT functions)
Trading firms that work out elaborate deals in which they trade or barter their products with one another or even supply goods in return for tax breaks from the local government are using ________
A) protectionism B) competitive intelligence C) gray marketing D) countertrade E) inflation
Like OpenOffice Calc, ____ is a free, open-source spreadsheet program that is part of the GNOME desktop for computers running the Linux operating system.
A. Gnumeric B. Google C. GCalc D. GStat
Which of the following is NOT an indication of a successful contracting meeting?
a. consultant and client have come to an agreement on the process for moving forward b. consultant and client have appropriately negotiated needs and roles c. consultant and client have inconsistencies in expectations d. consultant and client are each satisfied with the relationship