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Section 13-3

Section 13-3. Truth in Lending. Truth in Lending. Annual Percentage Rate (APR) Unearned Interest. Truth in Lending. The Consumer Credit Protection Act, which passed in 1968, has commonly been known as the Truth in Lending Act . Two major issues addressed in the law:

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13.3 Annual Percentage Rate (APR) and the Rule of 78

13.3 Annual Percentage Rate (APR) and the Rule of 78. 1. Page 910: Charge per $100 financed. Jimmie bought new electronic equipment for his business for $7325. He agreed to pay 50 monthly payments of $188.80. Find the charge per $100 financed.

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Section 13-3

13.3 Annual Percentage Rate (APR) and the Rule of 78