Which of the following statements is TRUE? Interest rates
A)cannot exceed 60% per annum under the Criminal Code
B)can exceed 500% in some provinces for pay day loans
C)must be stated as an annual rate or the lender can only charge 5% per annum
D)must disclose all fees and administrative costs tied into the interest rate for consumer loans
E)all of the above

Question

Quizplus · Accepted Answer

The Answer of Which of the following statements is TRUE? Interest rates
A)cannot exceed 60% per annum under the Criminal Code
B)can exceed 500% in some provinces for pay day loans
C)must be stated as an annual rate or the lender can only charge 5% per annum
D)must disclose all fees and administrative costs tied into the interest rate for consumer loans
E)all of the above

Which of the Following Statements Is TRUE? Interest Rates