Question

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?​

Answer 1

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

Truth in Lending Act

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.

The scenarios

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