3. Dan's credit card was lost on a vacation. He immediately reported it missing. The person who found it days later used it, and

Question

Aloiza [94]

1 year ago

15

3. Dan's credit card was lost on a vacation. He immediately reported it missing. The person who found it days later used it, and

charged $x worth of merchandise on the card, where x > $200. How much of the $x is Dan responsible for paying?

Mathematics

1 answer:

Olenka [21] · Answer 1 · 2023-05-16T10:34:29+03:00

The question is an illustration of the Truth in Lending Act, and Dan is responsible for paying $0

<h3>Truth in Lending Act</h3>

The Truth in Lending Act is simply an act that protects people from unfair charges on their credit cards, especially in case of theft and card misplacement.

<h3>The scenarios</h3>

From the question, we have the following scenarios

His card got lost
He reported
Someone else saw the card and purchased goods worth over $200

Because Dan reported when his card got lost, he is protected by the Truth in Lending Act (TILA).

Hence, Dan is responsible for paying $0

Read more about the Truth in Lending Act at

brainly.com/question/1979208