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Question 8 of 10

According to the Truth in Lending Act, which of the following is the bank NOT obligated to inform you of?

A. Interest calculating method
B. APR
C. Annual fee amount
D. APY

Sagot :

GinnyAnsweridn

Final answer:

Banks are not obligated to inform borrowers about the annual fee amount under the Truth in Lending Act.


Explanation:

According to the Truth in Lending Act, the bank is NOT obligated to inform you of the Annual fee amount. The Truth in Lending Act requires lenders to disclose important information about the terms of a loan or credit such as the interest calculating method, APR (Annual Percentage Rate), and APY (Annual Percentage Yield), but it does not mandate disclosing the annual fee amount.


Learn more about Truth in Lending Act here:

https://brainly.com/question/30386250


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