Question: L & M lent Joan $ 1 0 0 so that she could buy her business law textbooks for the current semester. L & M

L & M lent Joan $

100

so that she could buy her business law textbooks for the current semester. L & M

'

s terms for repayment of the loan are, $

100

in two months and another $

50

at the end of the semester. The legal rate of interest on this type of loan is six percent per annum. L & Ms loan is usurious.Group of answer choicesTrue

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