Multiple Choice
Marla applies for and receives a three-year loan through Sharkey Lenders for $5,000 at 27% APR.If the loan agreement violates the applicable usury statute,Marla may be able to keep
A) the interest that exceeds the usury limit.
B) all of the interest on the loan.
C) the interest and the $5,000.
D) Any of the answer choices are possible, depending on where the loan was made.
Correct Answer:
Verified
Correct Answer:
Verified
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