Interest Rates on Installment Sales

Date
1991-08-16
Authors
Harl, Neil
Harl, Neil
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Iowa State University Digital Repository
Abstract

Since 1964, a minimum interest rate has been imposed on installment sales. More precisely, a part of each principal payment under an installment sale is treated as interest rather than sales price (and the total sales price is correspondingly reduced) if interest of less than the prescribed rate is specified.

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