According to the truth in lending, Act bank is not obliged to inform about methods of calculating Interest, thus the correct answer is B.
The bank is referred to as a financial institution that helps in depositing and borrowing funds with the purpose of investment and future saving. They help individuals to manage their wealth by offering various plans and schemes.
Truth in Lending Act safeguards from credit invoicing and unfair practices related to a credit card. it also provides information on loan costs to the lender. It encourages consumer to compare loans and credit cards from other companies.
Therefore, option B calculating the interest method is the appropriate answer.
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A sales tax is a type of "indirect tax".
Indirect taxes are fundamentally imposes that can be passed on to another substance or person. It is generally forced on a maker or provider who at that point passes on the duty to the customer.
Sales tax refers to the utilization charge required on products and ventures obtained at the retail level, paid by the customer and put together by the retailer to the overseeing charge authority. Whenever individuals go to the shopping centers or retail chains to shop, they are now going to make good on roundabout regulatory expenses. Goods , for example, family unit things, garments, and other essential wares are liable to such sort of taxes.
b: Attorney General
c: Ambassador to the United Nations
d: Secretary of Treasury
Answer:
Annual depreciation= $420,000
Explanation:
Giving the following information:
The cost of an asset is $1,050,000, and its residual value is $210,000.
The estimated useful life of the asset is four years.
To calculate the depreciation expense using the double-declining balance, we need to use the following formula:
Annual depreciation= 2*[(book value)/estimated life (years)]
Annual depreciation= 2*[(1,050,000 - 210,000)/4]
Annual depreciation= $420,000