Finance
In Michigan, the Truth-in-Lending Act (TILA) requires lenders to disclose the loan's:
AAppraised value of the collateral
BAnnual Percentage Rate (APR) and total finance charges✓ Correct
CInsurance premium amounts
DProperty tax assessment
Explanation
TILA requires lenders to disclose the Annual Percentage Rate (APR) and total finance charges, giving borrowers a standardized way to compare the true cost of different loan options.
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