Asked by Caylee Pritchett on May 23, 2024
Verified
How much would the interest rate be if there was no usury law?
Usury Law
Legislation that places a cap on the interest rates that can be charged on loans, intended to protect consumers from excessively high charges.
Interest Rate
The amount charged by lenders to borrowers for the use of assets, usually expressed as a percentage of the principal, influencing borrowing and saving behaviors.
- Detail the repercussions of varying interest rates on the economy, including an analysis of legal restrictions on usury.
Verified Answer
JJ
Learning Objectives
- Detail the repercussions of varying interest rates on the economy, including an analysis of legal restrictions on usury.
Related questions
Without Usury Laws Interest Rates Would Be ____________________
Usury Laws Impose a _________ on Interest Rates
Usury Laws Are Ineffective Unless the Interest Rate Ceiling Is ...
________________ Is Defined as An Unconscionable or Exorbitant Rate of ...
How Much Would the Interest Rate Be If There Was ...