Multiple Choice
Which of the following statements best describes a fully amortised term loan?
A) A fully amortised term loan is an interest-only loan with principal repayable at maturity.
B) A fully amortised term loan has periodic repayments, including interest and principal reduction.
C) Interest repayments on a fully amortised term loan are fixed for the period of the loan.
D) A fully amortised term loan is a 'low-start' loan whose repayments are increased over the term.
Correct Answer:
Verified
Correct Answer:
Verified
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