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In many states, such as New Jersey, the "legal rate of interest" is 6%, but this only applies to rare situations and certainly does not mean that home mortgages at higher rates, or credit card finance charges (often as high as 18%), are illegal.
In many states, such as New Jersey, the "legal rate of interest" is 6%, but this only applies to rare situations and certainly does not mean that home mortgages at higher rates, or credit card finance charges (often as high as 18%), are illegal.
Many Christians ignore the teachings of the Bible in regards to charging interest on loans.<ref>Deuteronomy 23:19-20</ref> This is an example of how parts of the Bible are no longer relevant to modern life.
Many Christians ignore the teachings of the Bible in regards to charging interest on loans.<ref>Deuteronomy 23:19-20</ref> This is an example of how some Christians disregard parts of the Bible because they believe they are no longer relevant to modern life.
==References==
==References==