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Suppose a State Has Set a Usurious Rate of Interest

Question 45

Multiple Choice

Suppose a state has set a usurious rate of interest as any interest rate above 25 percent.Samuel borrows $1,000 from Clara.Clara can demand a maximum of ________ without violating the usury law.


A) $1,000
B) $25
C) $1,250
D) $750

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