Loan disclosure statement is:
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A. B. C. D.D
The correct answer is D. All of these.
A loan disclosure statement is a document that lenders are required to provide to borrowers. The purpose of the loan disclosure statement is to provide the borrower with important information about the loan, including the dollar amount of finance charges and the APR applicable to the loan.
The dollar amount of finance charges includes any fees or charges associated with the loan, such as application fees, origination fees, and other charges. The APR, or annual percentage rate, is the interest rate that the borrower will pay on the loan over the course of a year, taking into account the finance charges and the loan term.
In summary, a loan disclosure statement is a document that provides important information to the borrower about the loan, including the dollar amount of finance charges and the APR applicable to the loan. This information is required by law to ensure that borrowers have a clear understanding of the costs associated with the loan.