1. Legally lenders must disclose both the APR and Effective Rate. Which one is the true cost of borrowing and why?
2. Will america face another financial crises like the on in 2009, in future? if so, why? and how can we prevent it. if not then give reasons.
3. Why does money have a time value? Can you provide at least one real-life scenario in which you can apply the concept of time value of money?