Asked by Victor Bedoya on Jun 24, 2024
Verified
How much would the interest rate be if there was no usury law?
Usury Law
Legislation designed to regulate interest rates by setting a maximum rate that can be charged on loans and credit.
Interest Rate
The cost of borrowing money, expressed as a percentage of the amount loaned, which lenders charge borrowers or the rate earned by depositors.
- Elucidate the consequences of interest rate fluctuations on the economic environment, covering the significance of laws against usury.
Verified Answer
WO
Learning Objectives
- Elucidate the consequences of interest rate fluctuations on the economic environment, covering the significance of laws against usury.
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