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Annual Percentage Rate

act lending money borrowing

The actual cost of borrowing money, expressed in the form of a yearly measure to allow consumers to compare the cost of borrowing money among several lenders.

The Federal Truth-in-Lending Act (15 U.S.C.A. § 1601 et seq. [1968]) mandates the complete disclosure of this rate in addition to other credit terms.

CROSS-REFERENCES

Truth in Lending Act.

Annual Report - Further Readings [next]

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