(815 ILCS 405/2.15) (from Ch. 121 1/2, par. 502.15)
Sec. 2.15.
"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%.
(Source: P.A. 76-1780.)
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