Answer: The Truth in Lending Act (TILA) of 1968
Explanation: TILA is a law enacted by the USA federal law to protect lenders and consumers generally are treated justly.
The laws requires lenders to disclose the APR (annual percentage rate) of loans, finance charge, repayment schedule and total repayment amount in the documents to be sent to and signed by the lenders.
This is to control the excesses of lenders and the terms used in the contact must be simple to understand by the borrowers.
Monopoly: possession or control of a supply or trade in service. (in other words a business with little to no competition. Not common in the US.)Cartel: association of manufacturers with purpose of setting prices high to restrict competition.
Answer:
2.64%
Explanation:
A = P(1 + r)^n
A = $12,000
P = $10,000
n = 7 years
12,000 = 10,000(1 + r)^7
(1 + r)^7 = 12,000/10,000 = 1.2
(1 + r)^7 = 1.2
1 + r = (1.2)^1/7
I + r = 1.0264
r = 1.0264 - 1 = 0.0264
r = 0.0264 × 100 = 2.64%
Yes absolutely however
we wouldn't have all those campaign ads that run Television Channels which are salaried
for by special interests. Additionally the politicians wouldn't
have as much cause to use their own money since the special interest groups
wouldn't be paying them off in back room deals.
On more things is that if there were no interest groups, then
one group would have most of the say. The rest of the populace would not have a
form of representation. So it is extremely important to have interests groups.
