2 months ago
Last edited at 10:18AM on 2/10/2014
Supposedly they tell you enough about the terms of the loan in language that you may understand. Supposedly you get enough information to compare the choices offered and possibly seek another lender with a better loan offer. Unfortunately many people don't seem to understand interest as a charge for borrowing. They also would not understand the nature of the equation(s) that are used to compute interest. The equation is an exponential function.