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

Final Answer :

30%

Learning Objectives

Elucidate the consequences of interest rate fluctuations on the economic environment, covering the significance of laws against usury.