. What are some ways banks can state theircharges, and how should the cost of bankdebt be analyzed? In the early 1970s, Congressdebated the need for new legislation, and itended up passing a “Truth in Lending” law. Onepart of the law was the requirement that banksdisclose their APR. How is the APR calculated?Do you think the Truth in Lending law was reallynecessary?
Mortgages
A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.
Mortgage
The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.
. What are some ways banks can state their
charges, and how should the cost of bank
debt be analyzed? In the early 1970s, Congress
debated the need for new legislation, and it
ended up passing a “Truth in Lending” law. One
part of the law was the requirement that banks
disclose their APR. How is the APR calculated?
Do you think the Truth in Lending law was really
necessary?
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