Asked by Karina Garcia on May 07, 2024
Verified
The APR is calculated by consumers with tables provided by the Federal Trade Commission.
APR
APR, or Annual Percentage Rate, measures the cost to borrow money on an annual basis, including interest and additional fees.
- Learn about the duties and legal conditions applicable to consumer transactions.
Verified Answer
DA
dequez AndrewsMay 13, 2024
Final Answer :
False
Explanation :
The APR is calculated by lenders and disclosed to consumers, not the other way around. The Federal Trade Commission does provide information and guidance on understanding and comparing APRs, but they do not provide tables for calculating APR.
Learning Objectives
- Learn about the duties and legal conditions applicable to consumer transactions.
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