Finance
The Truth in Lending Act (TILA) requires lenders to disclose the cost of credit as the:
ANote rate
BAnnual Percentage Rate (APR)✓ Correct
CPrime rate
DDiscount rate
Explanation
TILA (Regulation Z) requires lenders to disclose the Annual Percentage Rate (APR), which includes the interest rate plus fees and other costs, providing borrowers with a true cost of credit comparison.
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