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Illinois Statutes Chapter 815. Business Transactions § 375/2.13. Annual percentage rate

Current as of January 01, 2025 | Updated by Findlaw Staff

§ 2.13. “Annual percentage rate” means the nominal annual percentage rate of finance charge determined in accordance with the actuarial method of computation with an accuracy at least to the nearest 1/4 of 1%; or at the option of the seller, by application of the United States rule so that it may be disclosed with an accuracy at least to the nearest 1/4 of 1%.

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Cite this article: FindLaw.com - Illinois Statutes Chapter 815. Business Transactions § 375/2.13. Annual percentage rate - last updated January 01, 2025 | https://codes.findlaw.com/il/chapter-815-business-transactions/il-st-sect-815-375-2-13/

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