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y, a recent Western Washington -year loan through Kent Lending, eement violates the applicable usu Any of the answer choices are possible the interest that exceeds the usury lim

y, a recent Western Washington -year loan through Kent Lending, eement violates the applicable usu Any of the answer choices are possible the interest that exceeds the usury lim

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question 35 Mary, a recent Western Washington University graduate, applies for and receives a five-year loan through Kent Lending, LLC for $10,000 at 29% APR. If the loan agreement violates the applicable usury statute, Mary may be able to keep: O Any of the answer choices are possible, depending on where the loan was made. the interest that exceeds the usury limit. O the interest and the $5,000. O all of the interest on the loan. Next
Transcribed Image Text:Question 35 Mary, a recent Western Washington University graduate, applies for and receives a five-year loan through Kent Lending, LLC for $10,000 at 29% APR. If the loan agreement violates the applicable usury statute, Mary may be able to keep: O Any of the answer choices are possible, depending on where the loan was made. the interest that exceeds the usury limit. O the interest and the $5,000. O all of the interest on the loan. Next
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