Multiple Choice
Which of the following is NOT true of a fixed payment loan?
A) The borrower is required to make regular periodic payments to the lender.
B) The payments made by the borrower include both interest and principal.
C) The borrower is left with a substantial unpaid principal at the maturity of the loan.
D) A home mortgage is an example of fixed payment loan.
Correct Answer:
Verified
Correct Answer:
Verified
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